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Losses widen at Funding Circle

The peer-to-peer lender has been spending on growing its market share
Losses widen at Funding Circle

Funding Circle (FCH) has had no problem attracting businesses looking for a loan, nor investors willing to put up the capital. Loans under management rose 55 per cent to £3.15bn last year, with originations up 40 per cent. Lending by the core UK business was up almost half, while 'developing' markets – Germany and the Netherlands – more than doubled loans under management. That meant revenue growth exceeded the peer-to-peer lender’s 50 per cent target stated at the initial public offering. Management is guiding towards revenue of more than £200m for 2019, or an annual growth rate of 41 per cent.  

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