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Payments General

Funding Circle set to IPO in 2018

Monday 8 January 2018 | 10:15 AM CET

Funding Circle, an UK P2P lending platform, is looking for financial advisers to oversee its Initial Public Offering (IPO) set to launch in 2018.

Sources from Sky News claim that company representatives plan to hire advisors by the end of the first quarter of 2018. A listing may be possible as soon as late autumn.

Banks have been looking forward to a flotation of Funding Circle, one of UK’s biggest fintech companies, valuated at USD 1 billion. Launched in 2010, the P2P lending platform processed tens of thousands of loans, mainly targeted at small business owners. Estimates put the total amount of loans at more than USD 5 billion globally.

Many are optimistic that the floatation will exceed the USD 1 billion valuation. Among the company’s investors are Baillie Gifford, the Edinburgh-based manager, DST Global, Index Ventures and Rocket Internet.

More: Link
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