Funding Circle (LSE: FCH), a UK-based SME finance platform, has received a £200 million forward flow agreement with Deutsche Bank.
Deutsche Bank, a funder on the Funding Circle platform for more than 10 years now, is said to strengthen its commitment to enabling UK-based SMEs via this partnership.
In FY2024, Funding Circle reports taht Term Loan originations grew by 33%.
These loan offerings are now being complemented by Funding Circle’s other offerings, which include solutions like FlexiPay and the Funding Circle business credit card.”
Dipesh Mehta, Chief Capital Officer at Funding Circle, said:
“This funding allows us to continue supporting the backbone of the UK economy with the finance they need to grow and succeed.”
Established in the UK back in 2010, after the global financial crisis, Funding Circle has now originated approximately £15 billion in credit to over 110,000 businesses in the UK.”
As reported this past month, Funding Circle secured a £230 million credit facility from Citi, which the firm will deploy to “support its growth in flexible SME finance solutions.”
Funding Circle will use the credit facility to “support the growth of Funding Circle’s flexible payment product, FlexiPay.”
FlexiPay recently surpassed “£1 billion in credit extended – with its revenue tripling and transactions doubling in FY24 – bringing Funding Circle’s total credit extended to over c.£15bn for SMEs across the UK.”
