Funding Circle launches across Europe to help more small business access finance
Today we’re excited to announce that we’re joining forces with Zencap, to create the first truly global marketplace lending platform and to help millions of businesses across Europe access finance.
Zencap currently operates in Germany, Spain and the Netherlands, and has experienced strong growth over the past 18 months with more than €35 million lent to 520 businesses. They are Continental Europe’s leading marketplace for small business loans and will now operate as Funding Circle across Europe.
Together as one business we combine their established home grown team and local knowledge, with our experience and innovative technology. The European business will operate separately from Funding Circle in the UK, so there will be no change to your lending experience; investors based in the UK will continue to lend to businesses in only the UK.
Since launching in the UK in 2010, the Funding Circle marketplace has helped 12,000 businesses access more than $1.5 billion of finance in the UK and US. We’re excited to be taking this technology to Europe, so we can help businesses borrow in a faster and more efficient way whilst giving investors the opportunity to make a return on their money.
Commenting on today’s news, Samir Desai CEO and co-founder of Funding Circle said: “Our vision is to help millions of businesses across the world sidestep the outdated and inefficient banking system and borrow from investors. Today’s news is the next exciting stage of this journey. We have been hugely impressed with what the Zencap team have achieved so far. By coming together we combine Funding Circle’s leading position in the UK and US with Zencap’s deep understanding of local markets to create the first truly global marketplace lending platform.”
Today’s news is the next step towards a global revolution in the way small businesses access finance. We’re over on the forum talking about this, so please do join the conversation.
The Funding Circle team