Source: Funding Circle
Funding Circle Holdings plc (“Funding Circle” or the “Company”), the leading small and medium enterprise (“SME”) loans platform in the UK, US, Germany and the Netherlands, today announces updates to its statistics pages for the three months ending 30 September 2018 (the “Quarter”) and selected highlights from the quarter.
Highlights:
• Loans under Management (excluding property) of ~£2.8 billion as at 30 September 2018, up 61% compared to the same period last year
• Originations (excluding property) of £564 million for Q3 2018 vs £388 million in Q3 2017, up 45%; total of £1.6 billion loans originated in the year to 30 September 2018
• On 7 September 2018, Alcentra Group, an alternative fixed income specialist for BNY Mellon Investment Management, agreed to lend up to $1 billion to SMEs through Funding Circle’s platform in the US over the next three years
• On 18 September 2018 the Company announced Geeta Gopalan will join the Funding Circle Board on 1 November as a Non-Executive Director and Chair the Audit Committee
• On 3 October 2018, the Company was admitted to trading on the Premium Listing segment of the London Stock Exchange. As part of the IPO, the Company raised gross proceeds of £300 million
Samir Desai CBE, CEO and co-founder said: “Funding Circle delivered a strong quarter of growth with loans under management of £2.8 billion and a record quarter for originations. The business continues to deliver our growth strategy and we remain focused on building Funding Circle for the long term.”
Outlook for full year 2018
The Board confirms growth expectations remain unchanged for the full year.