London Stock Exchange Group (LSEG) has welcomed global small business loans platform Funding Circle to the Main Market. Raising £300 million in primary proceeds, with a valuation of £1.5 billion, Funding Circle’s IPO underlines the UK’s leading position in supporting ambitious fintech companies to expand globally. Funding Circle has facilitated over £5 billion in loans to over 50,000 SMEs from 80,000 investors in the UK, US, Germany and the Netherlands.
Samir Desai, CEO, Funding Circle was understandably delighted with the news and commented;
“We have always believed Funding Circle would be well-suited to the public markets and today’s listing is recognition of the strength and global impact of our model. We look forward to starting this exciting new chapter for the business as we focus on growth across all markets and seek to create a better financial world for small businesses and investors.
I am pleased to welcome our new shareholders and I would like to thank my fellow Circlers for all their hard work since we launched. Funding Circle is a very ambitious company and we are excited to continue growing our business over the coming years. The UK is a great place to start and grow a fintech business and we are proud to have listed on London Stock Exchange today.”
Dr Robert Barnes, Global Head of Primary Markets and CEO Turquoise, London Stock Exchange Group lead the salutations by saying;
“We congratulate Funding Circle on its successful IPO. We have watched with great interest the development of the fintech industry over the last decade. Funding Circle’s IPO today further confirms London as a leading international financial centre for raising capital for global fintech businesses.
Sitting at the heart of UK’s financial ecosystem, London Stock Exchange is the natural funding partner to a sector that is reshaping the global financial services landscape. We are proud to support these businesses throughout their growth journeys, offering them access to deep liquid pools of international investor capital for the long-term.”
London Stock Exchange Group plays a leading role in championing the UK’s thriving tech sector, supporting dynamic global firms in fintech and a wide range of technology fields at IPO and throughout their development.