Marketplace lending is about to enter a golden age. March industry news
This month, we were incredibly pleased to announce the appointment of Jörg Asmussen to the Funding Circle board. Jörg is a German economist and policymaker who has held numerous high-profile positions, including as a finance minister and at the European Central Bank. We are hugely privileged to have him join the team, and his experience and expertise will be very useful as we accelerate our growth across the UK, US and Europe. Further coverage seen in Business Insider.
As you may be aware, the government will launch the Innovative Finance ISA this tax year, which will enable you to earn tax-free returns by lending to businesses directly through Funding Circle. In order to launch an Innovative Finance ISA, all peer-to-peer lending platforms are required to be fully authorised by the regulator, the Financial Conduct Authority (FCA). The FCA is close to completing their review process with us and we’re very excited to launch the Funding Circle ISA as soon as we receive full authorisation. For more information, please read our most recent blog post and take a look at our website. You can also read more about Innovative Finance ISAs in City AM and Telegraph.
In other exciting news, the Funding Circle SME Income Fund is now lending to small businesses through Funding Circle’s marketplaces in Germany, Spain and the Netherlands. The SME Income Fund was listed on the London Stock Exchange towards the end of 2015, and lends exclusively to small businesses through Funding Circle’s marketplaces in the UK, US, and now Europe. Investors in the UK can hold shares in the Funding Circle SME Income Fund through either their existing Stocks & Shares ISA or Self Invested Personal Pension. Please contact your financial adviser with any questions.
Our CEO, Samir, gave the keynote speech at AltFi, a leading industry conference, where he addressed the challenges and opportunities for marketplace lending. Welcoming recent scrutiny on the sector, Samir believes the reasons for founding Funding Circle remain the same and that contrary to recent criticism, marketplace lending is about to enter a golden age. You can watch his full speech here and read further coverage in Financial Times.
And finally, do you know of any start-up or small companies looking for a new workspace to call home? At our London headquarters, we’ve dedicated an entire floor to younger and smaller businesses who are in need of desks in the heart of the city at a reduced market rate. Our Chief Operations Officer, Pam Burton, commented: “We know what it’s like to be small and entrepreneurial, and we hope that access to central London and the city will mean other firms have the opportunity to flourish.” Spark any interest? Please see here for more information and get in touch!