Osborne Clarke has advised Funding Circle, a long-standing client and the market leading peer to peer (P2P) business lender in the UK, in a $37m Series C round of funding. This is one of the largest investment rounds completed in Europe this year, which is a testament to the success and rapid growth of Funding Circle in the past few years. In the last 12 months, Funding Circle has facilitated the lending of £170 million to more than 3,000 UK businesses and is a market leader in the fast growing P2P debt market.

The round was led by a new investor, Accel Partners. Other venture capital firms who participated in the round were new investor Ribbit Capital and existing investors Union Square Ventures and Index Ventures.

Client relationship partner Omar Al-Nuaimi comments: "The funds raised will assist Funding Circle expand its UK operations and launch in the US via the recent merger with San Francisco start-up, Endurance Lending Network, which will now trade as Funding Circle. The ability of the company to raise this level of further investment is a testament to both the quality of its management team and the continual innovation shown by the company since inception."

The Osborne Clarke team advising Funding Circle was led by Simon Jones (Senior Associate) and included Jenny Reid (Associate).