Ex-FSA chief honcho Lord Adair Turner years ago commented that peer-to-peer lenders ‘’will make the worst bankers look like lending geniuses’’, City AM reports. Yesterday one of these unicorns, Funding Circle, warned that revenue growth would be less than half of what it had hoped at just 20 per cent. For a firm that hasn’t made a profit in its 9-year history, growth is everything. Shares, which floated in October 2018 at 440 pence, closed at 115.6 pence last night.
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