SoFi, Prosper Investor Bets on UK Online Lender

| By:


Capital One-backed QED investors is putting more money where their money is — in online lending. After taking bets on Prosper Loans and SoFi, the venture capital firm crossed the pond to invest in UK-based student loans lender Future Finance.

The Dublin-based company raised $171 million from marquee investors like Blackstone Group and QED investors in addition to the existing credit facility with Goldman Sachs and will use $100 million towards selling more loans. The two-year old online lender has received over 37,000 applications to date since 2014.

The injection “will enable many more students in the U.K. to access higher education and invest in their future careers,” Chief Executive Officer Brian Norton said, according to Bloomberg. In a video interview, Norton pointed out that the affordable government loans, although great, aren’t enough.

And this may have come at an opportune time when the UK government said last month that it will continue to provide considerable subsidies for higher education including underwriting student loans, on one hand and making it a criminal offense to default on student loans on the other.

Last modified: April 20, 2019

Category: Marketplace Lending

Home Marketplace Lending › SoFi, Prosper Investor Bets on UK Online Lender


    CounselorLibrary

    United Fund USA

    Spartan Capital

    Legend Funding

    Splash Advance

    CapFront

    Lendora

    Smart Business Funding

    Redstone Advance

    South End Capital

    Arsenal

    Banana Exchange

    Meridian Leads

    ByzFunder

    Infusion Capital Group

    Percent

    Hunter Caroline

    Proventure Capital

    Lending Valley

    Monetaria

    ROK Financial

    Key Capital Group

    Balboa Capital

    Amerifi Capital

    Bitty Advance

    Wynwood Capital Group

    Fresh Funding