Friday, March 20, 2015

Victory Park Capital to finance Funding Circle loans

Funding Circle, the world's leading online 
marketplace for small business loans, 
today announces that Victory Park Capital, 
an asset management firm based in the 
US and an active lender to UK and 
European companies, will finance up 
to $420 million in loans to small 
businesses originated through 
Funding Circle both in the UK 
and US over the next three years.

This new, long-term agreement, which 
significantly extends the existing relationship 
between Funding Circle and Victory Park Capital, 
will allow Funding Circle to provide a much 
needed further injection of funding into the small 
business sector and reflects the strong growth 
of Funding Circle globally over the past twelve 
months. Funding Circle has now facilitated more 
than $850 million in loans to 8,000 small 
businesses globally.
Victory Park Capital has been actively involved 
in the marketplace lending sector since 2010 and 
has made more than US$2.2 billion of investments 
and commitments across a number of financial 
technology platforms, multiple geographies 
(US, UK and Europe), products 
(consumer and business) and structures 
(whole loans and senior credit facilities).
The investment combines cutting-edge technology 
with market leading financial solutions. 
Victory Park Capital was an early institutional 
partner to Funding Circle in the US and 
this new funding will be invested across all risk 
bands, in accordance with Funding Circle's 
industry-leading credit criteria.
Gordon Watson, Principal of 
Victory Park Capital, commented: "Funding Circle 
has experienced tremendous growth over the 
past year and we are pleased to expand our 
on-going partnership to both sides of the Atlantic. 
With this additional lending facility, 
Funding Circle will be well-positioned 
to continue to disrupt the traditional banking 
model through 2015 and beyond."
Samir Desai, CEO and co-founder of 
Funding Circle, added: "We're pleased to be 
welcoming additional new financing to the 
marketplace, which will further support small 
businesses. Today's news is a significant step 
on our journey to creating the global infrastructure 
where any investor, big or small, can lend 
to creditworthy small businesses looking to grow."
Sachin Patel, Head of UK Capital Markets 
at Funding Circle, said: "Partnering with 
Victory Park both in the UK and US is testament 
to our proven track record in facilitating loans 
with attractive yields and consistent credit 
performance. Funding Circle is opening up 
an asset class to investors that has previously 
only been available to high street banks."
Launched in 2010, Funding Circle is 
helping to spark a global revolution in the way 
small businesses access finance, disrupting 
the traditional model of banking. 
Funding Circle's proven model enables 
businesses to access finance in a matter of days, 
directly from investors who earn high, stable returns.
Through Funding Circle, businesses typically 
access the capital they need in seven days 
compared to 15-20 weeks with a bank. 
Independent research* has found that three 
in four businesses would come to Funding Circle 
first in future, ahead of a bank. 

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