Online lending platform Ezbob has reportedly closed a £15m funding round from Da Vinci Capital Management, according to various reports in the media.
The capital was raised at a £100m post-money valuation and will be used to support the expansion of its operations, a report by FinSMEs reports.
Ezbob is a digital lending platform that provides loans of up to £120,000 over one to three-month tenures for small businesses. The platform allows users to receive an offer within an hour and a borrower can use the app to keep track of their funding history, contracts and repayment schedules.
Founded in 2011, the company offers business loans, consumer loans and mortgage lending products.
The company’s previous round of funding was a £20m Series C investment in 2016, from investors including Leumi Partners and Oaktree Capital Management.
Last year, Da Vinci Capital partnered with lending platform ID Finance to launch a $200m FinTech-focused debt finance fund. Around the same time as this vehicle launch, the firm led the $3.5m investment in to travel expense management platform WAY2VAT.
The online loans sub-sector of marketplace lending, led the way for investments last year, representing around 45 per cent of the capital. The next biggest area was the SME financing solutions, with the companies receiving around 31 per cent of the equity share.
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