The Funding Circle SME Fund was listed on the London Stock Exchange in the fall of 2015 having raised £150 million. The permanent capital vehicle is now lending to small business in Germany, the Netherlands and Spain. The fund had previously commenced lending to UK and US SMEs.
Funding Circle co-founder Matthias Knecht said his company was “driving a global revolution” in providing new methods for SMEs to access financing.
“Having the SME Income Fund lend to businesses in Germany, Spain and the Netherlands is another important milestone on our way to diversifying our investor base, and ensures businesses receive the fast and efficient access to capital they deserve.” said Knecht.
Eligible businesses must have been trading for two years, have a minimum turnover of £50,000, and pass Funding Circle’s credit assessment process. Funding Circle currently lends about $150 million each month to SMEs around the world.