Funding Circle, a Kickstarter for SMBs, Picks Up $16M From Index, Union Square Ventures

Some great news for small business owners, and perhaps a sign of more crowdsourced funding coming to the U.S. soon: the UK startup Funding Circle -- a Kickstarter for small businesses -- has just announced that it has raised a $16 million round of funding to further build up its business of enabling non-bank lending to small businesses. The investment included participation from existing investor Index Ventures as well as new investor Union Square Ventures -- a sign of how Funding Circle may have its sights set on taking advantage of the new crowdfunding laws to expand to the U.S. This Series B round takes the total raised by Funding Circle to $21 million.

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