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§ Private Profile · Boca Raton, FL, USA
Online peer-to-peer lending platform connecting prime borrowers with investors for personal loans in the consumer lending market.
Founded in 2013 by Michael Solomon, CircleBack Lending was an online peer to peer platform in Boca Raton connecting prime consumer borrowers with institutional investors. The company originated personal loans from one thousand to thirty five thousand dollars, featuring repayment terms up to sixty months and annual percentage rates between seven and thirty six percent. It generated revenue by selling these credit assets to private funds, community banks, and family offices, eventually partnering with Jefferies Group for a loan securitization initiative. The enterprise secured almost two million dollars in a 2014 equity round led by GETCO founders Daniel Tierney and Stephen Schuler, alongside advisory support from former Lending Club executive John Donovan. Despite this backing, the startup permanently ceased operations in 2016 amid rising borrower defaults, a flawed business model, and industry funding challenges exposed by Bloomberg.
CircleBack Lending has raised $17.4M across 1 funding round.
CircleBack Lending has raised $17.4M in total across 1 funding round.
CircleBack Lending has raised $17.4M in total across 1 funding round.
CircleBack Lending's investors include Pine River Capital Management.
CircleBack Lending has raised $17.4M across 1 funding round. Most recently, it raised $17.4M Series A in September 2015.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Sep 15, 2015 | $17.4M Series A | Pine River Capital Management | — | Announced |