Online lending platform EZBob Ltd has raised £20m (about $28.3 million) in Series C funding in a round led by Leumi Partners and Oaktree Capital Management.
According to statement, the company will use the new funds to increase its lending capacity and continue to develop its technology platform.
Tomer Guriel, CEO and co-founder of EZBob, said: “Raising investment from a leading global bank in digitalisation and an active investor within tech is proof of our game-changing technology and unique approach to business lending. This latest investment will further accelerate our growth plans and enable us to continue to develop our proprietary business lending platform to address more of the UK’s business lending needs.
“Oaktree’s additional investment is an endorsement of the management team, the business’ scalability and the appetite for a fresh approach to business finance in the UK.”
Leumi Partners is the investment arm of Bank Leumi, one of Israel’s biggest banks with a history of investing in technology.
Professor Danny Tsiddon, chairman of Leumi Partners and Leumi Group deputy CEO, added: “This is Leumi’s first major investment in FinTech outside of Israel.
“Business e-lending is rapidly growing around the world and is attracting global banks, who see its potential and allocate more and more resources towards it. It is only natural that a bank which specialises in Israeli high-tech and spearheads innovation has chosen to invest in this leading FinTech start-up,” concluded Tsiddon.
This post first appeared on Tech City News.