Globally, investors on the Funding Circle platform have lent more than $1.4 billion to small businesses in 2016, with approximately $485 million lent in Q4 alone, a record amount for any SME direct lending platform. Additionally, in Q4 Funding Circle UK recorded 90 percent year-on-year growth and reached profitability. Samir Desai, CEO and co-founder of Funding Circle, said: “Funding Circle is changing the financial landscape for small businesses and investors globally, ensuring a better deal for everyone and helping to create a more sustainable and fairer economy. Today’s news is the next step on our journey to create a category-defining company that helps thousands of small businesses access finance and create jobs. Over the next 12 months, lending through the Funding Circle platform will create a further 50,000 new jobs, supporting economic growth in the UK, US and continental Europe.” Funding Circle facilitates lending to small businesses from investors including 60,000 individuals, local and national government, the European Investment Bank and financial institutions such as pension funds. The investment comes as lending to small businesses through the platform passes $3 billion globally, benefitting over 25,000 businesses and creating 50,000 new jobs.
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