Britain’s fintech industry is flourishing. September industry news
Five years, four months and ten days after Funding Circle launched, we celebrated investors lending £1 billion. Just nine months later you’ve lent a further £500 million to bring the grand total to £1.5 billion! You and other investors have helped more than 16,000 businesses across the country, including Daren’s bakery in Kent and Candy’s doggy day care in Suffolk. Your continued support has helped these amazing companies acquire the finance they need to grow and prosper. Read more on our blog.
Following the Bank of England’s decision to lower the base rate, the Telegraph discusses the benefits of online lending as another form of investment, including the potential returns and risks involved. With direct lending, the key to managing risk is having a diversified portfolio, which you can achieve by spreading your money across hundreds of loans. Learn why we believe diversification is so important in this video on our blog and on our statistics page. Remember, when you lend, your capital is at risk.
Technology is increasingly allowing customers to manage their finances on the go. Fintech companies are providing services to suit our fast-paced lives, such as international payments from a mobile phone or lending to small businesses directly through platforms like Funding Circle. Startups have the advantage of being free of legacy technology systems and high overhead costs. Increasingly we’re seeing banks and fintech companies collaborate to provide an even better service to customers.
Not only is fintech shaking up the way people invest their money, it’s also opening up new channels of finance for businesses looking to expand and grow. There are many options to consider when looking for funding, and it may be overwhelming if you’re not sure what route to take. This is Money looks at when the right time is to explore external financing, the different choices available and how to decide which one is best suited for your company’s needs.
Proof that Britain’s technology industry is flourishing is seen in the rising number of incredible tech businesses across the country. Investment into the sector and the funding options now available to these companies helps them to unleash their true potential. For an example of a technology business that has grown and benefitted thanks to you and other investors, check out this case study video on our blog of Danny Long, founder of Pure Technology.
And finally, we were pleased to announce the appointment of Eric Daniels to the Funding Circle board as a Non-Executive Director. Former Chief Executive of Lloyds TSB, Daniels has over 40 years experience in the financial and banking sector, and will help us to achieve our aim of revolutionising small business finance across the world. Read more in the Telegraph.