Funding Circle

Funding Circle lends over £117m in January

Funding Circle has announced that it lent more than £117m last month to UK businesses.

In total, 1,821 businesses accessed finance in January via the peer-to-peer platform, creating 4,700 jobs in the process.

The largest portion of funding went to businesses in the South East (22.1%), followed by companies based in London (16.2%), the Midlands (14.4%) and the South West (11.7%).

The property and construction sector received the largest part of the funding (17.6%), followed by professional and business support (13.5%) and retail (11.9%).

Luke Jooste, head of UK sales channels at Funding Circle, said: “What a great start to the year!

“In just one month, Funding Circle investors lent £118 million to more than 1,800 British small businesses, creating an estimated 4,700 new jobs.

“Thanks to the continued support from our investors, we're helping businesses thrive, supporting local communities and driving the economy forward.”

The platform recently announced that its investors had lent over $5bn (approximately £3.6bn) to SMEs across the UK, USA, Germany and the Netherlands since its launch.

Pictured above (l-r): Samir Desai, James Meekings and Andrew Mullinger, co-founders of Funding Circle

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