Funding Circle is one of the UK’s major peer-to-peer platforms, and received authorisation from the Financial Conduct Authority (FCA) in May 2017.
Thus, it has now launched an innovative finance ISA (IFISA).
Only one of its fellow major players in the UK peer-to-peer market, Lending Works, also achieved this in February 2017.
We look at the company and its offerings to give you an understanding of the company you might like to invest through.
Funding Circle overview
Funding circle was founded in 2010, focused exclusively on facilitating lending to small businesses, and the first company in the UK to actually do so.
As a major market player with a longstanding history, we have a look at just a little bit of what the company has done and achieved. All numbers correct at the time of writing.
- Using the Funding Circle platform, 59,555 investors have lent £2.1 billion to businesses
- 22,850 businesses have borrowed through Funding Circle
- The company has injected £2.7 billion into UK economy
- Investors have earned £107.5 million in interest after fees and bad debt, but before tax
- March 2013 saw the government lend £20 million through its Business Finance Partnership scheme to small UK businesses, through Funding Circle
- In early 2014, the government’s British Business Bank Investment Programme pledged an additional £40 million (along with other investors) through Funding Circle’s platform once again
- The European Investment Bank pledged to lend £100 million through Funding Circle in June 2016
- As recently as January 2017, British Business Bank used Funding Circle to lend a further £40 million directly to small businesses
- It has partnered with big-hitters like Santander to expand its reach
- Funding circle has won a number of awards, a few of which are “Best Alternative Funding Provider” at the Business Moneyfacts awards, one of the top 100 Tech Startups in Europe by the Telegraph, one of the top 50 most innovative, creative and disruptive companies in Britain by the Redbull Future 50.
- Since it was founded in the UK, it has expanded to the US, Germany, Spain and the Netherlands.
Updated: Wednesday, November 28th, 2018