P2P lending platform receives major funding
The site is called Blend, and it’s aimed at funding development projects rather than financing home loans for private individuals. Loans are secured against property, and the site claims to offer average returns of 12% annually. Investors involved in late-round seed funding include Publicis Group’s Maurice Lévy, Citigroup’s Cyrus Ardalan and Brevan Howard’s Jean-Phillipe Blochet. Blend is said to be focussing on upscaling in the new year.