The Brits are coming! Funding Circle, which uses consumer savings to fund business loans, claiming to offer better rates for both than traditional banks, is now well armed and beefing up its presence in the USA. They also appointed Robert Steel, the CEO of boutique investment bank Perella Weinberg.
Funding Circle, the British peer-to-peer internet lender, has appointed one of Wall Street’s most-experienced big hitters to its board as it takes aim at the US market. Robert K Steel, the chief executive of boutique investment bank Perella Weinberg, was a deputy to former New York mayor Michael Bloomberg and has also held senior positions at Goldman Sachs and the US Treasury. Funding Circle announced his appointment as it said it had raised $65m (£38m), the biggest investment to date in the UK’s fast-growing crowdfunding industry.