Date
21 September 2018
London Stock Exchange could soon have a new fintech listing as peer-to-peer lender Funding Circle prepares for an IPO. Photo: Reuters
London Stock Exchange could soon have a new fintech listing as peer-to-peer lender Funding Circle prepares for an IPO. Photo: Reuters

Peer-to-peer lender Funding Circle to list on London exchange

Funding Circle, a British peer-to-peer lending marketplace, announced on Monday that it will list its shares on the London Stock Exchange’s main market, Reuters reports.

Danish billionaire Anders Povlsen has pledged to buy 10 percent of the company at a maximum valuation of 1.65 billion pounds (US$2.1 billion), the report said, citing a statement from Funding Circle.

“Today’s announcement is the start of the next stage in our exciting and transformational journey,” Samir Desai, CEO and co-founder of Funding Circle, said in the statement.

Funding Circle has helped more than 50,000 businesses in Britain, the United States, Germany and the Netherlands to borrow more than 5 billion pounds since it launched in 2010.

The deal could be valued at around 300 million pounds, a banker familiar with the situation told Reuters.

Global asset management firm Alcentra recently agreed to lend US$1 billion to small businesses through Funding Circle’s US platform over the next few years.

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