Selina Finance launched in the UK a year ago to provide small business owners secured business loans; a small business owner puts up their home as collateral which enables Selina to provide a much lower interest rate on the loan; small businesses can borrow up to £1 million, with an average of £150,000, at interest rates starting at 4.95%; the company has just recently closed a £12 million Series A investment along with £30 million in debt capital; investors include Picus Capital and Global Founders Capital; the funding will be used to continue to grow their business in the UK and to start the process of opening up to other markets in Europe; Robin Godenrath, Managing Director at Picus Capital, said, “Selina Finance is bringing much-needed innovation to the UK lending space by allowing customers to access the equity locked up in their residential property, seamlessly and on flexible terms.” TechCrunch.
