Funding Circle strengthens its platform strategy with H&R Block partnership

SAN FRANCISCO, Sept. 11, 2015 /PRNewswire/ -- The small businesses who already use H&R Block for bookkeeping, payroll, taxes and other accounting services now have access to a new online service: business loans up to $500,000, thanks to a new referral partnership with Funding Circle, the world's leading marketplace for small business loans.

Through the partnership, Funding Circle loans are the preferred solution for H&R Block Small Business customers seeking financing to grow.

The new agreement bolsters Funding Circle's diverse strategic partner ecosystem, which has experienced a 313% growth in monthly originations since January 2015. Other key partners integrated onto the platform recently include Intuit, Tri-Net, LendingTree, Credit Karma, Creditera and the National Small Business Association.

"Funding Circle offers strategic partners across multiple verticals the opportunity to build value-added services by leveraging our core technology, strong underwriting and customer-first approach to deliver unique financing solutions for their small business customers," said Funding Circle co-founder and US managing director Sam Hodges. "Building a rich and diverse partner ecosystem is a core part of our growth strategy, and we are proud to welcome strong brands like H&R Block onto our platform who share our values and mission to help small businesses grow and prosper."

"The mission of our two organizations are very similar," said Jeremy Smith, director of Block Small Business. "We both provide services to small businesses that enable successful, sustainable growth. Given that we do the accounting for service businesses with less than $20MM in revenue, our clients have found it difficult to get loans from traditional banks. Well, Funding Circle specializes in lending to these types of businesses; so now our clients have a go-to source for capital to grow their businesses."

Through the Funding Circle marketplace, businesses looking to borrow up to $500,0000 are matched with accredited and institutional investors. By bringing together industry leading risk management and cutting edge technology, Funding Circle's proven marketplace model enables businesses to access financing in under 10 days compared to months with a bank.

About Funding Circle
Funding Circle (www.fundingcircle.com) is the world's leading online marketplace for business loans, matching small businesses who want to borrow with investors in the UK and the US. Since launching in 2010, investors at Funding Circle - including 40,000 individuals, financial institutions and even the UK Government - have now invested more than $1 billion in 10,000 businesses globally. Funding Circle has raised $273 million in equity capital from the same investors that backed Facebook, Twitter, Airbnb and Alibaba.

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SOURCE Funding Circle

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