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IN BRIEF: Funding Circle renews £200 million deal with Deutsche Bank

ALN

Funding Circle Holdings PLC - London-based lending platform focused on small and medium enterprises - Renews its £200 million forward flow agreement with Deutsche Bank AG. Says Deutsche Bank has been a Funding Circle platform funder since 2014, and the partnership solidifies its commitment to supporting UK SMEs. ‘This deal underscores the strength and success of Funding Circle’s core lending product and the robust returns available to investors,’ the firm continues. ‘Continued backing from institutional investors reflects the proven performance of Funding Circle’s proprietary technology and robust credit assessment capabilities.’ Funding Circle also highlights its ‘AI-powered credit models’ which discriminate risk ‘three times better than traditional bureau scores’ and therefore ‘continue to deliver a commercial advantage’.

‘Consistently renewing partnerships is an endorsement of the confidence that leading financial institutions have in our tech platform, credit assessment capabilities, and the attractive, stable returns we deliver for our funding partners,’ comments Chief Capital Officer Dipesh Mehta. ‘Deutsche Bank has been a partner on our platform for over a decade and we’re delighted to renew another deal, which will provide vital access to finance for UK SMEs and funnel capital to the real economy to support job creation and economic growth.’

Current stock price: 137.40 pence

12-month change: up 25%

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