CircleBack Lending, a Boca Raton, Fla., marketplace lender, has completed a $17.4 million round of equity financing.
The company, which offers installment loans to consumers and small business owners, will use the funds to continue building its business, according to a Tuesday news release.
Since its launch in 2013, CircleBack has facilitated the origination of more than $200 million in loans. The company announced its first securitization, a $106 million deal, in June.
The equity financing round was led by Pine River Capital Management, an asset management firm.
Pine River also entered into an agreement that gives it the right to buy as much as $500 million in CircleBack loans.
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