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Our mission
The modern financial system is anything but modern.
It’s slow, complacent and failing businesses and investors alike. So we’re changing it.
Funding Circle is an online marketplace to help businesses find fast finance, and investors get better returns. There are no middlemen, no banks, and no lengthy delays. Instead, it’s an open exchange with detailed real-time information, empowering you to choose the best deal for your needs.
We want to make sure that we provide a modern, speedy, hassle-free service that gives businesses and investors a better deal.
If that’s what you’re looking for, welcome to Funding Circle.
Funding Circle facts & figures*
- Loans funded to date: £30m
- Number of businesses borrowed: 703
* Figures as of late April 2012.
Company Background
Funding Circle opened in August 2010 and since then has been constantly featured throughout the media as a better way for investors to earn a return, and for businesses to get access to fast finance.
The company was co-founded by Samir Desai, James Meekings and Andrew Mullinger who set themselves the challenge of removing the high costs and complexity in financial services by cutting out the banks.
Funding Circle is backed by Index Ventures, Union Square Ventures and a series of prominent Angel investors including Alan Morgan, former head of McKinsey & Co.'s Financial Services in the UK,Europe and the Middle East; Andy Homer, former Chief Executive of Towergate Partnership; Charles Dunstone, co-founder of The Carphone Warehouse; Ed-Wray, co-founder of Betfair; Jon Moulton, the founder of private equity firm Better Capital, and former managing partner of Alchemy Partners; and Sam Lababidi, co-founder of Playfish.
Read more about the team here
Supporting the backbone of the UK Economy
Small businesses in the UK are under the stranglehold of the major banks who charge them high interest rates and fees for borrowing. According to HM Treasury the top 5 highstreet banks make up 92% of total small business lending by the banks – with such a concentration of lending amongst so few providers small businesses have limited finance options, and can’t access bond markets like larger businesses. Small, local businesses are the unsung heroes and driving force of the UK economy employing 60% of the private sector workforce and generating 50% of the UK’s GDP.
