Funding Circle, the UK peer-to-peer small business lender, is on track to do over £35 million ($53.8 million) in revenues this year, Business Insider can reveal.
Funding Circle’s online platform lets savers lend directly to small businesses at more favourable interest rates than offered by traditional bank savings accounts.
Accounts filed with Companies House in the UK show Funding Circle Holdings, the parent company of both Funding Circle’s UK and US businesses, did revenues of £13.1 million ($20.1 million) in the year to December 31, 2014. That was up from £5.3 million ($8.1 million) in 2013.
But CEO and cofounder Samir […] Read more