Funding Circle now 3rd biggest lender to businesses
Posted on 18 Jan 2017
Funding Circle founder aims high
The Sunday Times’ Kiki Loizou interviews Funding Circle co-founder Samir Desai. The company is now Britain’s third-biggest net lender to small businesses, despite only being active for seven years. Mr Desai predicts its success will continue. “Within two years we will be the biggest lender to small companies in the UK. We’re a huge part of the financial ecosystem now,” he says. The platform has so far helped 15,000 companies to raise loans of more than £1.1bn, but Mr Desai believes it can reach £70bn in 10 years. At the same time, Funding Circle has yet to make a profit, posting a £19.4m loss for 2014 on revenues of £13.1m.
Source: The Sunday Times (03/04/2016)
