Funding Circle, which has facilitated $3 billion in loans for small-and medium-businesses, raised another $100 million to build out its own platform.
The San Francisco-based matchmaker says the 60,000 investors on the site lent more than $1.4 billion to small businesses in 2016, and $485 million in the fourth quarter alone, which it called “a record amount for any SME direct lending platform.” Funding Circle launched in 2010 and has now raised a total of $373 million in equity, according to CrunchBase.
The latest round was led by Accel, which made early investments in Dropbox, Etsy, and Facebook. Other investors include Baillie Gifford, DST Global, Index Ventures, Ribbit Capital, Rocket Internet, Sands Capital Ventures, Temasek and Union Square Ventures.
Photo credit: Funding Circle