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@Avalon.red

Funding Circle raises £300m in London IPO

by Purvai Dua September 28, 2018

written by Purvai Dua 28^th Sep 18 10:22 am

Fintech unicorn Funding Circle has been officially listed on the London Stock Exchange with an Initial Public Offering (IPO) of £300m.

The peer to peer lending platform has priced its IPO at the bottom of a narrowed price range, putting it on track for a market capitalisation of £1.5bn when its shares start trading on the London Stock Exchange next Wednesday.

It had priced its shares at 440p.
The listing is set to raise £141m for the pre-IPO shareholders and £300m for the company, according to The Financial Times.

Samir Desai, chief executive of Funding Circle said: “We look forward to starting this exciting new chapter for the business as we focus on growth across all markets and seek to create a better financial world for small businesses and investors.

“I am pleased to welcome our new shareholders and I would like to thank my fellow Circlers for all their hard work since we launched. Funding Circle is a very ambitious company and we are excited to continue growing our business over the coming years. The UK is a great place to start and grow a fintech business and we are proud to have listed on London Stock Exchange today,” he added.

The company, which was launched in 2010, connects small businesses with private and institutional investors.