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.
Thanks for the tip Ryan.