P2P lender Funding Circle has raised $150m in equity capital from Baillie Gifford, a fund managed by private equity giants BlackRock, Sands Capital Ventures and Singapore sovereign wealth fund Temasek.
The new funding will be used to lend to the UK and US markets and fuel further growth, said a statement from the lender.
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David Yu, previously chief executive officer and CTO of Betfair, joins Funding Circle as Global CPO; and Chitra Nayak, previously COO of Salesforce’s platform business, joins as US COO.
Samir Desai, chief executive officer and co-founder of Funding Circle said: "This investment, alongside prudent risk management, will ensure Funding Circle’s long term future."
Funding Circle said it had lent $1 billion globally, benefitting over 8,000 businesses in UK and US.
In January, news broke that Société Générale and Goldman Sachs were among several banks discussing a plan to back Aztec Money, an emerging peer-to-peer financing platform that has created an online marketplace where people can bid for company invoices.
