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UNIS:FUN, Jan 21, 04:44 UTC

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Funding Circle's James Meekings: 'The first few days after our IPO were an emotional roller-coaster'

FUN

In the weeks leading up to Funding Circle’s official market debut on October 3, there were signs of trouble ahead. While many had praised the peer-to-peer lender’s boldness and ingenuity, there were others who warned it would be difficult to predict how investors would respond, amid volatile market conditions. This focus “on the long-term” is something Funding Circle repeatedly circles back to, and it’s not really a surprise. For a company that has yet to turn a profit, Funding Circle relies heavily on its long-term potential to draw in market interest, something which has helped to land it a place among the coveted tech “unicorns” – companies with a valuation of more than $1bn. While still loss-making, Funding Circle is clearly making some financial progress. “We’ve used the Bank of England’s most prudent stress test and if that was to happen, and that’s a pretty bad situation, then our returns would drop to 3pc to 5pc.”. But, in fact, Meekings says it all comes down to how demand holds up from small and medium businesses. And this could actually present Funding Circle with a larger opportunity. Back in 2008, the three university friends, Desai, now Funding Circle chief executive, Meekings and Andrew Mullinger, would spend every Thursday night in the pub, where they would chat about the small business finance market, “whether it worked well, and why it didn’t work”.

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telegraph.co.uk
Topics:
  • Business
  • Financial

Friday, January 18


News

Rising defaults take gloss off Funding Circle’s lending boom

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The subscription details associated with this account need to be updated. Please update your billing details here to continue enjoying your access to the most informative and considered journalism in the UK. Funding Circle reported robust loan and revenue growth for last year, although it admitted that default rates among borrowers had risen substantially. The lender said loan originations increased 40 per cent to £2.3 billion. However, evidence of stress among its customers took the shine off the trading figures, stoking fears that Brexit uncertainties could squeeze small and medium-sized businesses.

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thetimes.co.uk
Topics:
  • Business
  • Financial

Thursday, January 17


News

Funding Circle beats revenue forecasts after float flop

FUN LSE

Funding Circle is climbing back from its disappointing listing after announcing that its revenue growth has beaten expectations. The company, set up in a London pub by three friends in the aftermath of the financial crisis, said revenues and loans under management would beat previous guidance by soaring 55pc for the fourth quarter of 2018. Shares in the company plunged after its debut on the London Stock Exchange last year, triggering other British businesses to put their plans for a UK float on hold. Although the peer-to-peer lender has since reported two strong sets of results, its shares are still below the 440p listing price and were trading at 332p on Thursday. It has grown rapidly, with the British Business Bank promising to lend up to £150m to Britain's small businesses through Funding Circle late last year.

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telegraph.co.uk
Topics:
  • Business
  • Financial
News

Funding Circle beats revenue growth forecasts three months on from IPO

FUN

Funding Circle beats revenue growth forecasts three months on from IPO. Small business lender Funding Circle has beaten its forecasts for revenue growth and loans under management three months after a disappointing debut on the London Stock Exchange. The company hit revenue growth of 55 per cent in the fourth quarter of 2018, exceeding the 50 per cent guidance which was estimated at the time of its initial public offering (IPO). In November the British Business Bank announced it would commit to lending up to £150m to UK small businesses through Funding Circle, and in December Waterfall Asset management agreed to invest in £1bn of loans through the fintech giant’s UK platform over a two year period.

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cityam.com
Topics:
  • Business
  • Financial

Wednesday, January 16


Social Chatter

Funding Circle (UNIS:FUN) social chatter is higher than usual

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Cedar Fair, L.P. $FUN Given Consensus Recommendation of “Hold” by Brokerages https://t.co/f7ZYIx4B66

Saturday, January 12


News

Numis Securities Reiterates Buy Rating for Funding Circle (FCH)

FUN

Numis Securities Reiterates Buy Rating for Funding Circle (FCH) – Modern Readers. Numis Securities reiterated their buy rating on shares of Funding Circle (LON:FCH) in a research report released on Wednesday, December 19th. Numis Securities currently has a GBX 523 ($6.83) target price on the stock. FCH traded down GBX 5.25 ($0.07) during midday trading on Wednesday, hitting GBX 313 ($4.09).

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modernreaders.com
Topics:
  • Business
  • Financial

Wednesday, January 09


News

Monzo and Funding Circle help put UK in lead for tech investment

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UK tech companies attracted £2.49 billion in venture capital investment last year – far more than Germany in second place with £1.38 billion and France in third place with £1.03 billion, according to data from London & Partners and PitchBook. High profile initial public offerings (IPOs) from the likes of online fashion firm Farfetch and peer-to-peer lender Funding Circle also ensured Britain took the crown for the most tech listings, at 17 throughout 2018. The figures also showed London was by far the UK hub for investment, accounting for £1.8 billion or 72% of the country’s venture capital raised in 2018. Firms developing cryptocurrency and blockchain technology also saw record growth, securing more than £200 million in venture capital funding, up from £19.11 million in 2017. And major deals, such as the £84 million funding round for challenger bank Monzo, saw £1.2 billion raised in total by British fintech firms.Show more.

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independent.ie
Topics:
  • Business
  • Financial
  • Science

Saturday, January 05


News

Funding Circle Holdings PLC (LON:FCH) Insider Buys £52,996.16 in Stock – PressOracle

FUN

Funding Circle Holdings PLC (LON:FCH) insider Geeta Gopalan bought 13,216 shares of the company’s stock in a transaction on Friday, December 7th. The stock was bought at an average price of GBX 401 ($5.24) per share, for a total transaction of £52,996.16 ($69,248.87). FCH stock traded down GBX 8.10 ($0.11) during mid-day trading on Friday, reaching GBX 315.35 ($4.12). Separately, Numis Securities restated a “buy” rating and issued a GBX 523 ($6.83) target price on shares of Funding Circle in a research note on Wednesday, December 19th.

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pressoracle.com
Topics:
  • Business
  • Financial
News

Funding Circle (FCH) Stock Rating Reaffirmed by Numis Securities – Fairfield Current

FUN

Funding Circle (FCH) Stock Rating Reaffirmed by Numis Securities – Fairfield Current. Numis Securities reaffirmed their buy rating on shares of Funding Circle (LON:FCH) in a report issued on Wednesday, December 19th. Numis Securities currently has a GBX 523 ($6.83) price objective on the stock. Shares of FCH stock traded down GBX 8.10 ($0.11) during mid-day trading on Wednesday, reaching GBX 315.35 ($4.12).

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fairfieldcurrent.com
Topics:
  • Business
  • Financial

Friday, January 04


News

Funding Circle (FCH) Stock Price Down 6.1% – PressOracle

FUN

Funding Circle Holdings PLC (LON:FCH) dropped 6.1% during trading on Wednesday . The stock traded as low as GBX 309.88 ($4.05) and last traded at GBX 324.05 ($4.23). Approximately 141,425 shares changed hands during mid-day trading, an increase of ∞ from the average daily volume of 0 shares. Separately, Numis Securities reiterated a “buy” rating and set a GBX 523 ($6.83) price objective on shares of Funding Circle in a research note on Friday, December 7th.

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pressoracle.com
Topics:
  • Business
  • Financial