Company News 

Seven Days: 7 September 2018

Seven Days: 7 September 2018

Funding Circle's fundraising

The Financial Conduct Authority may be planning to introduce tighter restrictions on the peer-to-peer lending sector, but the enhanced regulatory scrutiny hasn’t deterred Funding Circle from pursuing a main-market IPO. The eight-year-old company plans to raise gross proceeds of £300m, with existing shareholders also selling stock. The flotation has secured the support of Danish billionaire Anders Povlsen, an investor in Asos (ASOS) and Numis (NUM), who has agreed to acquire a 10 per cent stake, provided the valuation doesn’t exceed £1.65bn. The offer will be open to retail investors via certain intermediaries.

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