Funding Circle Gets More Backing
Funding Circle is one of Zopa‘s peer-to-peer finance rivals, that concentrates on small businesses. An article in today’s Sunday Times has said that they have just raised an extra £10m of finance.
From my point of view, the most interesting thing in the article is this quote from Neil Rimer of Index Ventures.
Even if the banks were to get their acts together overnight and were suddenly to start lending, they would struggle to compete with Funding Circle. The Internet didn’t exist when the banks set up their infrastructure to deal with small buisinesses.
He doesn’t go as far as I do, but I definitely think that those who hold bank shares need their heads examined.
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