Lending Works, a London, UK-based peer-to-peer lending platform, raised £3m in Series A funding.
The round was led by NVM Private Equity (£2m) with participation from an existing institutional shareholder.
The company intends to use the funds for business scalability, risk and business development.
Led by Nick Harding, founding CEO, Lending Works is a peer-to-peer lending platform which matches lenders with creditworthy personal loan borrowers.
The company is authorized and regulated by the Financial Conduct Authority and is a member of the Peer-to-Peer Finance Association (P2PFA), the industry association which represents online debt-based alternative finance companies.
Lending Works will soon be launching the Innovative Finance ISA (IFISA), in addition to confirming new partnerships, and introducing new loan products.