Funding Circle is the world’s leading marketplace exclusively focused on SME lending. More than £600m ($1bn) has been lent through its platform to more than 10,000 businesses in the UK and USA. SMEs can borrow directly from a diversified pool of investors, including more than 40,000 private individuals, the UK Government, local councils, universities and financial institutions.
Small and medium-sized enterprises (SMEs) account for more than 99% of companies operating in UK and US, providing two-thirds of all private sector jobs. Despite been significant contributors and drivers of job creation and economic growth, they have been traditionally underserved by financial institutions. A phenomenon that has exacerbated considerably during the recent economic downturn.