Funding Circle secures $100M investment from CIM

By Moriah Costa on Thursday 2 March 2017

Alternative Lending

Investment firm CIM has agreed to finance U.S. business loans through Funding Circle.

San Francisco-based Funding Circle will offer an additional $100m (around £82m) in loans to small businesses in the U.S. through a multi-year agreement with impact investment firm Community Investment Management (CIM).

The agreement extends a partnership between the two, Funding Circle said in a press release.

"Together, through this additional investment, we can help even more businesses access the transparent and responsible financing they need to stimulate job creation and economic growth in their local communities," said Sam Hodges, co-founder and US managing director at Funding Circle.

The company is the world’s largest online marketplace for small business loans and has lent more than £2bn to firms in the UK. It has operations in the U.S., UK and Europe and has lent over £2.5bn to over 25,000 businesses around the world.

Funding Circle has raised over $373m in equity capital, most recently closing a $100m round in January.

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