Funding Circle Lands £300M Lifeline for UK SMEs
Hey Digital Banking Fanatic!
SMEs in the UK just got a fresh boost.
Funding Circle has locked in a new £300 million forward flow agreement with TPG Angelo Gordon and Barclays, which is fuel for its mission to keep credit flowing to the UK’s small businesses.
The deal, which guarantees a pipeline of lending capacity, comes on top of the £1.6 billion in forward funding the platform had lined up by June.
It’s a clear vote of confidence in Funding Circle’s tech-driven credit assessment, and a timely reminder of just how critical SMEs are to the UK economy.
Investors seem to agree: shares ticked up 2.3% on the news.
Time to make the most of my final UK/London day before returning home to Amsterdam. Until then, cheers!
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