Funding Circle prepares to go transatlantic after venture capital boost

The business has struck a deal with San Francisco-based business lender Endurance Lending Network. Meanwhile, Accel Partners is leading a $37m investment in Funding Circle. New investor Ribbit Capital joins early backers New York-based Union Square Ventures and Index Ventures. Funding Circle said it has now raised $58m in equity funding.

This year, Funding Circle set up a partnership with Huddersfield University. The university has so far invested £100,000 in more than 400 firms through the platform, with any interest earned channelled into student scholarships.

Samir Desai, Funding Circle’s CEO, said: “The way businesses borrow is being transformed 
by eliminating the obstacles 
of an outdated banking system and putting owners directly in touch with investors who are looking to earn attractive returns. Today is a landmark step to achieving our vision of helping many millions of companies around the world access finance in a faster and easier way than through their bank.”