Company News + Investor + Partner + Small Business
What's next for Funding Circle? [Video]
We launched Funding Circle because we saw how difficult it was for small businesses to access the capital they need to grow.
The butchers, the bakers, the hairdressers, the mechanics, and the accountants — these are the people who really keep our economy going — but traditional banks made borrowing money a long and arduous process. So we set out to build a better financial world.
Since 2010, we’ve helped over 20,000 small businesses access affordable capital by using cutting edge technology to connect them with more than 55,000 investors in the US, UK, and continental Europe.
This was a big year for us as we continued to grow, but we have even bigger things planned for 2017. Watch the video below to see where we came from and where we’re going next.
WHERE WE CAME FROM
Samir: We launched the business in 2010 because we saw that it was very difficult for small businesses to get access to finance. It was a very lengthy and awful process, and at the same time we saw that investors were losing trust and satisfaction with banks and getting very low returns on their money.
WHERE WE ARE NOW
James: We’ve helped thousands of businesses every single month. These are the butchers, the bakers, the hairdressers, the mechanics, and the accountants. In the places where banks are closing down branches, we’re extending more loans than ever.
Sam: Funding Circle at its core is a fintech company and we need the best of both in order to be successful.
Panni: Entrepreneurs are the ones creating jobs. Wherever you go, whether it’s the UK, the US or continental Europe, small businesses power and fuel the economy.
Andy: We wouldn’t have been able to attract the money that has actually boosted our business. By the end of next year, we’ll be up to 18 staff.
Sunita: Dealing with Funding Circle felt like I was really talking to human beings
Ryan: Literally, what differentiates Funding Circle is the people. It’s a small company, that’s the best part.
Candice: Their staff are slick, absolutely slick.
Peter: The people that work there, understand the current market conditions.
David: We are really starting to deliver some excellent customer experience through technology.
Luis: Before having the technologies that we have now, it would have been impossible to build a platform like the one we have.
Jesse: We use cutting edge technologies, automate as many things as possible, and dig really deep into the data to evolve the way in which traditional financial services are done.
Anuj: We take what humans have done. We develop algorithms to emulate what they do, but ideally better.
Jakob: So in the end, our customers see a perfectly tailored message at the right time.
David: A particular highlight that stands out for me would be our deal with the European Investment Bank (EIB). It’s the first time a platform like Funding Circle has ever put together something with the EIB.
Emma: Personal highlight was the iPad app that we just launched for retail investors.
Jeroen: Great year for us in the Netherlands. We doubled the amount of loans we issued to SME owners, which meant we could help so many companies grow.
Francisco: Marketplace lending has grown more than twice in 2016. Funding Circle is leading this in Spain.
Samir: In the UK over 50,000 jobs have been created — directly or indirectly from the lending we’ve done.
James: We’ve taken the business to what will become more than 800 million pounds of lending in one year.
Funding Circle investors have lent nearly $3 billion globally.
Elly: We have grown our team massively. We have almost doubled in size this year, and that’s due to the demand of customers that we’ve had coming in.
Nina: I feel what Funding Circle does so well is bring the teams together.
Negeen: Our aim is to build a better financial world. People that are here are really dedicated to that cause.
Anuj: It’s about making sure that the little guy can have equal access to financing and to opportunities. More people can get funded and they can build their dream.
Dom: It’s an amazing way to put together a society. My first week someone told me that if you cut them open they’d bleed purple.
WHERE WE ARE GOING
David: What excites me most is that we’re going to be investing, more than ever, in creating a great experience for our borrowers and our investors.
Jerome: We’re going to see the UK business become more sophisticated, but we’re also going to see the international businesses starting to follow the UK in accelerating their business.
Samir: The future doesn’t belong to faint hearted — it belongs to the brave. Really trying to innovate and build new things takes a certain amount of resilience and bravery.
James: At Funding Circle we’re committed to building a better financial world and we put ourselves on the best footing to have an exceptional 2017.