$10m raised in latest funding round for Funding Xchange
Investors in this round: Downing Ventures, Gresham House Ventures, Hambledon Capital
Business finance aggregator Funding Xchange has raised $10m in Series A funding in a round led by Downing Ventures and Gresham House Ventures.
The round was also backed by Hambledon Capital and according to Funding Xchange, it was over-subscribed at stable valuation.
“The current crisis has accelerated the trend towards digitisation and the use of intelligent decisioning that uses access to live data,” Katrin Herrling (pictured), chief executive of Funding Xchange, said.
“We are delighted that our investors are seeing the significant opportunity to transform small – and medium-sized enterprise lending to make funding more accessible, more affordable and more sustainable through the deployment of our intelligent infrastructure.”
The company is seeing more demand for its online matchmaking service between business lenders including peer-to-peer lending platforms and borrowers.