The Series B equity portion of $35 million is being led by Lightrock, with previous backers Picus Capital and Global Founders Capital also participating.
(The latter two firms are tied in part to the Samwer brothers, who also built the Rocket Internet e-commerce incubator in Berlin.)
The remaining $115 million is coming in the form of debt from Goldman Sachs and GGC.
Hubert Fenwick, the CEO who co-founded the company with COO Leonard Benning, said Selina is not disclosing its valuation with this round, but a source said it is based on standard Series B dilution, which works out to around $140 million.
Selina plans to use the funding to continue expanding its business in the U.K. before considering how to tackle other markets in Europe, which Fenwick called “white space” because of how nascent the HELOC market is there; and to launch more products around its loans business, including a credit card that it will launch this year, which will draw down funds from a customer’s loan to make the funds more accessible.
Read more on Tech Gist Africa;
Brazilian startup, Digibee Raises $25 million Series A Round
GWI Raises $180M Series B at $850M Valuation for its Market Research SaaS
Wayflyer Raises $150M on a $1.6B Valuation for a New Spin on Providing Loans to e-Commerce Merchants
