Osborne Clarke has advised Funding Circle, an online marketplace for business lending, on its USD150 million (circa GBP100 million) in equity capital fundraising.
Osborne Clarke's team was led by VC Partner Rob Wood, assisted by Simon Jones and James Taylor.
Omar Al-Nuaimi, OC's Finance Partner and client CRM for Funding Circle, says: "We're proud to have supported Funding Circle and its founders from the outset. They are on course to surpass the USD1 billion mark for investments made via their platform over the next year. It's been great to have been part of their journey so far and we're looking forward to being part of it going forwards as they seek to consolidate their position in the UK and US markets and fuel further growth elsewhere."
Samir Desai, CEO and co-founder of Funding Circle, says: “We believe Funding Circle is the future of small business finance globally, and it’s a vision we share with some of the largest and most respected investors in the world. Today’s news is the next step on our journey to creating a sustainable, category-defining business in a multi-billion dollar global market, where businesses will come to the marketplace to borrow from all types of investors. This investment, alongside prudent risk management, will ensure Funding Circle’s long term future.”
