Wednesday, October 17, 2007

CircleLending Becomes Virgin Money USA; Gets Makeover and Millions in Funding

Peer-to-peer lending service CircleLending has been taken under the wings of Richard Branson’s Virgin empire and rebranded as Virgin Money USA

Virgin’s US investment firm recently bought a majority stake in the
Waltham, Massachusetts company, which acts as an online middleman for
friends and family who want to loan each other money. The exact amount
of money invested by Virgin has not been disclosed.

Virgin Money USA differs from other online lending services, because
it focuses on loans between people who are familiar with one another. Prosper, Lending Club, Kiva, and Zopa, on the other hand, facilitate loans between relative strangers.

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