U.K. peer-to-peer lending start-up Funding Circle has raised £82 million ($100 million) in a vote of confidence for the young industry even after the Brexit vote last year.
The round was led by global venture capital firm Accel with participation from existing Funding Circle investors including DST Global, Index Ventures and Temasek.
"We are a fintech business and we are all about delivering a world class service to businesses and investors and to make sure we have the best product we imagine. We wanted to raise more funds to invest in our technology," James Meekings, co-founder of Funding Circle, told CNBC by phone.
Online peer-to-peer lending is a relatively new way for businesses to access capital. A firm can apply for a loan on Funding Circle and is then matched with investors who could be a mixture of individuals, government or large financial institutions. A business makes repayments to Funding Circle with interest which is then distributed to the investors.