Consumer lending firm Lending Works has raised £2.8m in a round led by UK-based private equity house Maven Capital Partners. Maven contributed £2m, with a further £800,000 coming courtesy of Pollen Street Capital and NVM Private Equity.
Funding Circle’s landmark IPO – expected to happen this year – seems to have triggered a flotation-fever, with German mid-market lender Creditshelf now getting in on the act.
More than $2.8bn has been raised by challenger banks globally since 2014 following a record level in the first three months of 2018.
The crowd lending startup P2Binvestor has secured more than $17 million in funding from more than 20 participants to expand its bank partnership program.
Portuguese peer-to-peer lender Raize has made history by floating on the stock market. It is the first P2P platform in Europe to go public, and marks Portugal’s first initial public offering (IPO) since 2014.
Brex, a San Francisco company that offers a corporate credit card for startups, has launched its first product and raised $50 million in new investment, bringing its total funding to $57 million. PayPal founders Max Levchin and Peter Thiel contributed to the Series B financing round, in addition to fintech venture capital firm Ribbit Capital, early Facebook investor Yuri Milner and former Visa CEO Carl Pascarella.
Recently equity-crowdfunded startup Oval Money is ploughing ahead to a Series A fundraise. The platform, which describes itself as a personal finance marketplace, has scored a ‘significant’ investment from Italian banking group Intesa SanPaolo.
Chinese fintech Yirendai announced that global investment banking group Goldman Sachs has provided it with RMB 324 million of funding for a term of three years.
Irish peer-to-peer lending platform Linked Finance has partnered with Portugal’s Banco BNI Europa to make €50 million available for lending to Irish SMEs over two years.