Funding Circle, the UK’s leading SME lending platform, announced it has completed the sale of its US business segment to iBusiness Funding, LLC, a leading provider of lending solutions for banks and lenders of all sizes with a specialization in SBA lending. The transaction was for a total cash consideration of approximately £33 million.
Latham & Watkins LLP represented Funding Circle in the transaction with a corporate deal team led by Chicago partners Bradley Faris and Max Schleusener, with associate Brian Baloun.
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