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19 Oct 2018 | 09:02

Funding Circle loans under management swells as originations hit record in Q3

Funding Circle said Friday loans under management jumped 61% supported by a record haul of originations in the third quarter.

For the three months ended 30 months, loans under management rose 61% to £2.8bn, supported by a 45% jump in originations to £546m.

The jump in the loan growth comes as Alcentra Group, an alternative fixed income specialist for BNY Mellon Investment Management, agreed to lend up to $1bn to SMEs through Funding Circle's platform in the US over the next three years. 'Funding Circle delivered a strong quarter of growth with loans under management of £2.8 billion and a record quarter for originations. The business continues to deliver our growth strategy and we remain focused on building Funding Circle for the long term,' said Samir Desai CBE, CEO.

At 9:02am: (LON:FCH) Funding Circle Holdings Plc Ord 0.1p Wi share price was +21.33p at 431.33p

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