London based SMB lending startup Ezbob has raised a 15m GBP funding round from Da Vinci Capital Management, at a post money valuation of 100m GBP.
London-headquartered EZbob offers small businesses online loans, automatically processed and approved on its website. In addition to the EZbob brand, the company also offers loans under the brand Everline which it acquired in 2015. It employs around 40 people according to LinkedIn data in offices in London and in Herzliya, a city in the Tel Aviv metropolitan area. In 2015, EZbob raised 10 million GBP from Israel’s Bank Leumi and U.S. based investment firm Oaktree Capital Management L.P. Ezbob makes direct loans with a gross annual 20%-30% interest, demanding personal guarantees, unlike banks that require securities. Due to high risks, the company recently changed its strategy and by the end of 2016 shifted most of its business towards offering larger banking and investment companies access to its money lending technology, receiving royalty from approved loans.