Funding Circle considers IPO



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Funding Circle Holdings Limited has announced that it is considering proceeding with an initial public offering (IPO), looking to raise around £300m for the company.

The P2P business lending platform said that should the company proceed with an IPO, the offer would be comprised of new shares to be issued by the company and an offer of existing shares to be sold by certain existing shareholders, directors and employees.

Funding Circle is considering applying for admission of its ordinary shares to the premium listing segment of the official list of the FCA and to trading on the London Stock Exchange’s main market for listed securities.

The platform revealed that it would intend to use the primary proceeds of the IPO to increase trust with investors, borrowers and regulators, support its aims to target growth over profitability in the medium term and provide strategic flexibility to take advantage of opportunities either in current markets or new geographies.

The platform currently operates in the UK, US, Germany and the Netherlands and has facilitated over £5bn of loans to over 50,000 SMEs since launching in 2010.

Samir Desai, CEO and co-founder of Funding Circle (pictured above), said its mission was to build a better financial world.

“Today's announcement is the start of the next stage in our exciting and transformational journey.

“By combining cutting-edge technology with our own proprietary credit models and sophisticated data analytics, we deliver a better deal for small businesses and investors around the world.

“I am very proud of the team and culture we have created at Funding Circle, both of which have been integral to our success to date.”

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