Share Prices & Company Research

Market News

18 Apr 2019 | 07:17

Funding Circle revenues jump in Q1 as loans under management surge

Funding circle said revenues grew sharply as loans under management surged in the first quarter on the back of a 23% rise in originations. 
 For the 3 months ending 31 March, loans under management grew 44% to £3.4bn as originations jumped 23% to £64m for the year.



The company reported revenue growth of approximately 40% year-on-year through a combination of greater loans under management and originations, higher transaction yield, due in part to policy changes last year in the US, plus growth in other revenue lines.

Funding Circle confirmed that the group was trading in line with the board's expectations for the full year. 'Q1 was a period where Funding Circle reinforced its leadership position across each of its markets, reaching a new high of loans under management of £3.4 billion. We continue to implement our strategy of diversifying funding sources with a new commitment from the European Investment Bank, as well as launching two new institutional investor products,' said said Samir Desai CBE, CEO and co-founder. 

Story provided by StockMarketWire.com
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.