Happy 7th birthday Funding Circle!
In August 2010, Funding Circle was launched by three university friends, Samir Desai, James Meekings and Andrew Mullinger above a waffle shop. Their small team of five huddled around a telephone battling for their first customers and originated £2 million of lending in their first year.
Seven years on, you and other investors have supported the growth of 32,000 small businesses across the UK, US, Germany and the Netherlands. We’re blown away by how far we’ve come together so far and that’s all thanks to your lending.
Investors earning for their future
69,000 people and organisations are lending to small businesses, including local councils, the government-owned British Business Bank, the European Investment Bank and our most recent investor, Aegon. This new strategic lending partnership will support the growth of approximately 2,600 UK businesses, creating an estimated 6,400 new jobs in the first year. A diversified investor base ensures our platform is stable and sustainable, even in times of economic stress.
Businesses driving the economy forward
32,000 businesses have accessed finance, including David’s IT business, a doggy daycare in Suffolk, and our first ever borrower, Sustainable Direction. We recently met Dr John Henry Looney, founder of Sustainable Direction, to see how his business has grown since 2010.
Small businesses like these are the driving force behind much needed job creation, which in turn fuels productivity and the economy. Lending through Funding Circle has supported the creation of approximately 80,000 new jobs across the world.
And finally, we’re proud to have launched a new look, which celebrates the people who have turned their passions into livelihoods, supporting their families and local communities.
Thank you for choosing to be on this journey with us – Funding Circle wouldn’t be where it is today without all of your support.