BillFloat raises USD21m for loan service

Flexible loan service

Flexible loan service BillFloat has raised USD21m in a round of funding led by Investor Growth Capital with participation from Venrock and FirstRound Capital (Reports StrategyEye).

The San Francisco-based firm offers a flexible loan service designed for consumers who are unable to pay a bill on time. BillFloat takes responsibility for the bill in question, pays the outstanding amount on behalf of the user, helping to avoid late fees or overdraft charges, and demands payment at a later date. The funding will be used to develop its suite of consumer credit services.

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