Funding Circle

Funding Circle posts record originations

Funding Circle Holdings PLC has reported record originations of £683m for Q4 2018.

The SME loans platform posted that its Q4 2018 originations – which excluded property – were up 31% compared with the £522m reported in Q4 2017.

In its Q4 update, Funding Circle also revealed that total originations for the year to 31st December 2018 were up 40% reaching £2.3bn.

Elsewhere, loans under management – excluding property – stood at around £3.1bn as of 31st December 2018, up 55% compared with the same period in 2017.

This news comes after Funding Circle announced that Waterfall Asset Management would be investing £1bn through its platform, while also securing a £150m SME lending partnership with the British Business Bank.

"Funding Circle delivered a strong end to 2018, which resulted in exceeding our revenue and loans under management guidance for the year,” said Samir Desai, CEO and co-founder at Funding Circle (pictured above).

“We were pleased to announce a number of new institutional investor transactions in Q4, which is further validation of the attractive risk-adjusted returns generated on the Funding Circle platform.

“We enter 2019 with continuing confidence and remain focused on delivering our growth strategy set out at IPO.”

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