CircleBack Lending announced today that it has secured up to $500 million in loan purchases with Pine River Capital, who also led the financing round. The series A equity financing round totaled $17 million. Wicklow Capital, who has invested in SoFi as well participated in this round with a follow-on investment.
Their last round was completed in early 2014, which was a $1.9 million round. Then, last September we covered Jeffries $500 million investment commitment and their plans to securitize their loans. With up to $1 billion in commitments, it seems that CircleBack has sufficient capital for its loans. They currently have originated over $200 million in loans since it first launched in 2013. [Read more…]