The UK’s largest peer-to-peer lending firm is preparing for a £1bn ($1.35bn) listing on the London Stock Exchange.
Funding Circle is planning on meeting with investment banks over the next few months to choose an adviser for its listing. The listing could take place as early as autumn. Reports state that the company could be worth as much as £2bn.
Launched in 2010, Funding Circle has since lent more than £5bn. In 2017 alone, the firm lent £1.7bn. In addition, it has taken leaps in expanding to the US and Europe.
Funding Circle’s revenues jumped 59% to £51m in 2016 but losses increased to £47.2m from £39.5m a year earlier.