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17 Jan 2019 | 08:32

Funding Circle tops its expectations following 'strong' end to 2018

Lending company Funding Circle exceeded its annual revenue and loans under management guidance following a 'strong' fourth quarter.

For the three months ending 31 December, loans under management grew 55% to £3.12bn as originations grew 21% to £683m.

Full year revenue growth of 55% topped guidance of 50% stated at the company's initial public offering.

The company reaffirmed guidance given at the IPO with targeted revenue growth in excess of 40% in the medium term, and pledged a further update on guidance when the full year results are released on 7 March.

'Funding Circle delivered a strong end to 2018 which resulted in exceeding our revenue and Loans under Management guidance for the year,' said Samir Desai CBE, CEO and co-founder.

'We were pleased to announce a number of new institutional investor transactions in Q4, which is further validation of the attractive risk-adjusted returns generated on the Funding Circle platform. We enter 2019 with continuing confidence and remain focused on delivering our growth strategy set out at IPO.' At 8:32am: (LON:FCH) Funding Circle Holdings Plc Ord 0.1p Wi share price was -2.37p at 327.63p

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