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Funding Circle information


Funding Circle Limited
Company typePublic
Traded as
LSE: FCH
IndustryFinancial technology
FoundedAugust 2010; 13 years ago (2010-08)[1]
FounderSamir Desai, CEO[2]
James Meekings
Andrew Mullinger
HeadquartersQueen Victoria Street, London, EC4
Area served
UK, United States, Germany, Netherlands
Key people
Andrew Learoyd, Chairman
Edward Wray (board member)[3]
ProductsBusiness loan
Commercial and industrial loan
RevenueIncrease £154.8 million (2023)[4]
Operating income
Decrease £(33.2) million (2023)[4]
Net income
Decrease £(38.3) million (2023)[4]
Websitewww.fundingcircle.com

Funding Circle is a commercial lender. Originally it was a peer-to-peer lending marketplace that allowed the public to lend money directly to small and medium-sized businesses. Through this exchange businesses access lower costs of financing than they would get at a bank and the public are able to become lenders and in doing so make a return on their capital.[5] It closed its lending option to "retail investors" between 2020 and 2022, and then announced, in March 2022, that it had made the closure permanent.[5][6]

As of March 2022, Funding Circle had facilitated over £13.7 billion in loans to small and medium-sized firms.[7] The company is listed on the London Stock Exchange.

  1. ^ Cite error: The named reference Reuters2012December12 was invoked but never defined (see the help page).
  2. ^ MacLellan, Kylie (12 December 2012). "UPDATE 1-UK channels business lending via alternative financiers". No. Credit Markets. London: Reuters. Thomson Reuters. Retrieved 23 December 2019.
  3. ^ Cite error: The named reference Reuters2013October23MacLellanKylie was invoked but never defined (see the help page).
  4. ^ a b c "Annual Results 2023" (PDF). Funding Circle. Retrieved 7 March 2024.
  5. ^ a b MacLellan, Kylie (21 February 2012). "FEATURE-Small UK businesses seek crowds as funding alternative". No. Market News. London: Reuters. Thomson Reuters. Retrieved 23 December 2019.
  6. ^ Company email dated 10 Mar 2022 "After two years of the platform being paused for new investment from retail investors as we navigated and adapted to the Covid pandemic, we have taken the decision to permanently close the retail platform for new investments. This includes buying and selling loans through the Secondary Market. "
  7. ^ "Our statistics | Funding Circle". www.fundingcircle.com. Retrieved 10 March 2022.

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