Funding Circle Still Focused on “Marketplace” and Small BusinessApril 13, 2016 | By: Sean Murray
At Lendit, deBanked asked Funding Circle co-founder and US market head Sam Hodges if the company’s domestic loan volume would eventually outpace originations in the UK. Hodges expressed optimism that it would and explained that the company’s UK origins had simply given that operation a 12-24 month head start.
The company has originated more than $2 billion in loans since inception. A page on their UK site specifies that 1,212,223,380 pounds have gone to british businesses, the equivalent of about $1.7 billion.
Asked if the company would branch out into other types of lending such as consumer, Hodges responded that the company remains dedicated to two principles, “marketplace and small business.” On that note however, he said their UK branch already engages in commercial property loans and didn’t rule out that such a product could eventually be made available in the US.Last modified: April 13, 2016
Sean Murray is the founder of deBanked, an 11-year veteran of the merchant cash advance industry, a casual Lending Club and Prosper note investor, the co-founder of Daily Funder, an alternative lending speaker, consultant, writer, and enthusiast. Connect with me on LinkedIn or follow me on twitter.