Borrowell, a Toronto, Canada-based tech marketplace lender, will receive $6.4m operating and loan capital.
Backers included Equitable Bank, along with Hedgewood, Power Financial Corporation, Oakwest Corporation, Adam Felesky, and Freycinet Investments.
The company, wich has raised $11.8m in total funds, will accelerate operations.
Launched in March 2015 by Andrew Graham, CEO, Borrowell is a digital lender that offers fixed-interest personal loans via a wholly online application process that instantly provides personalized options to people with good credit who want alternatives to credit card debt.
To date, it has processed over $500m in loan applications from thousands of Canadians.