Funding Circle to Launch Initial Public Offering

funding circleFunding Circle, a London, UK-based peer-to-peer lending marketplace, are considering proceeding with an Initial Public Offering (IPO).

The IPO offer would be comprised of new shares to be issued by the company (to raise gross proceeds of approximately £300m) and an offer of existing shares to be sold by certain existing shareholders, directors and employees (the selling shareholders).

Funding Circle plans to use the primary proceeds of the offer to enhance its balance sheet position, increase the Group’s profile and brand awareness, assist in recruiting, retaining and incentivising key management and employees, and provide future liquidity to shareholders.

Led by Samir Desai, CEO and co-founder, Funding Circle is a global SME loans platform, matching SMEs who want to borrow with investors who want to lend in the UK, US, Germany and the Netherlands. Since launching in 2010, investors across Funding Circle’s geographies – including more than 80,000 retail investors, banks, asset management companies, insurance companies, government-backed entities and funds – have lent more than £5 billion to over 50,000 businesses globally.

Read the regulatory docs here.



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