Funding Circle, the leading small business loans platform in the UK, US, Germany and the Netherlands, has today announced that it intends to publish today a Registration Document and is considering proceeding with an initial public offering on the London Stock Exchange’s main market.
As part of this, Heartland A/S, the private holding company of Anders Holch Povlsen (a major investor in companies such as ASOS and Zalando), has confirmed that it will participate as a cornerstone investor in any such listing and has agreed to purchase 10% of the issued ordinary share capital up to a maximum valuation of £1.65bn.
In addition, Alcentra, a global asset managementfirm owned by The Bank of New York Mellon Corporation, recently agreed to lend $1 billion to small businesses through Funding Circle’s platform in the US over the next few years.
Samir Desai, CEO and co-founder of Funding Circle, said:“At Funding Circle our mission is to build a better financial world. Today’s announcement is the start of the next stage in our exciting and transformational journey. Over the last eight years, we have worked hard to build a platform that is number one in every market we operate in. By combining cutting-edge technology with our own proprietary credit models and sophisticated data analytics, we deliver a better deal for small businesses and investors around the world. I am very proud of the team and culture we have created at Funding Circle, both of which have been integral to our success to date”.