Listed Lending Platform Funding Circle Hits $10 Billion in Funds Issued
Listed lending P2P platform Funding Circle, headquartered in London, has surpassed the magic figure of $10 billion in funds loaned
Lending platform Funding Circle became the first P2P platform to list publicly in the United Kingdom.
It says on its website: “When funding Circle was founded [in 2010], we could see that businesses weren’t being given finance to grow, while investors were making poor returns. We had a simple idea – let them support each other.”
Today, over 90,000 investors have used the platform to loan funds to 72,000 small businesses. Funding Circle’s loan portfolio stretches across the United Kingdom, United States, Germany, and the Netherlands.
Funding Circle statistics
According to the company, the Funding Circle platform is the largest in each of its territories. For every dollar lent to a small business in 2018, it generated a GDP of $2. It contributed $ 8.7 billion to the global economy and created 115,000 jobs across the world.
In the United States, the company’s small business loan portfolio is bigger than almost 98% of all banks.
Despite the rising volume of loans processed on its platform, Funding Circle is yet to turn a profit.
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