Funding Circle is doing so well it hasn’t touched the £97 million it raised in April

Funding Circle is doing so well it hasn’t touched the £97 million it raised in April

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

Beyond P2P – The next wave of innovation in business finance

The reluctance of banks to lend to businesses has kick-started massive innovation in business finance. This week peer-to-peer (P2P) lender Zopa passed the £1bn lending mark and is expecting to do the next billion by the end of 2016. Peer-to-peer lenders have captured the public imagination by offering an alternative to banks.

Yet, focusing on P2P misses a huge part of the story of how funding in Britain is changing. P2P lenders innovated on the funding side by sourcing liquidity from individuals rather than institutions. That was helpful during the banking crisis when funding was scarce. Today we are facing […] Read more

The next wave of innovation in business finance

The reluctance of banks to lend to businesses has kick-started massive innovation in business finance.  This week peer-to-peer (P2P) lender Zopa passed the £1bn lending mark and is expecting to do the next billion by the end of 2016. Peer-to-peer lenders have captured the public imagination by offering an alternative to banks.

Yet, focusing on P2P misses a huge part of the story of how funding in Britain is changing. P2P lenders innovated on the funding side by sourcing liquidity from individuals rather than institutions. That was helpful during the banking crisis when funding was scarce. Today we are facing fundamentally […] Read more

P2P Lender Dianrong Receives $207 Million Investment led by Standard Chartered

P2P Lender Dianrong Receives $207 Million Investment led by Standard Chartered

Dianrong, a Chinese peer to peer lending platform, has received a new funding round in the amount of $207 million led by Standard Chartered with participation from China Fintech Fund and Bohai Leasing. The Series C funding was declared the largest ever for the direct lending industry in China. The funding was also notable as Standard Chartered, a multi-national bank based in London, represents a merging of internet finance with a high street bank, Dianrong called the investment a “new chapter” in the burgeoning peer to peer lending sector. Standard Chartered Managing Director Zhu Wei qualified […] Read more