BillFloat, a US-based micro-credit provider backed by EBay’s payments subsidiary PayPal, has raised $21m in its series B round.
Venture capital firm Investor Growth Capital led the B round and joined by peers Venrock, FirstRound Capital and Baseline Ventures and Bronze Investments.
The start-up also plans to raise up to $100m in debt financing to fund about $400m in loans this year, according to newswire Bloomberg, to complement its $36.9m in equity raised since launch.
BillFloat raised $4.5m in it’s A round in July 2010 from a consortium including PayPal.