05 October 2022
Written By FinTech Alliance in SME Finance
SME lender Funding Circle has made a lending deal worth £700mn with Bayview Asset Management.
In Brief:
It now has £700mn to lend do UK SMEs through its platform.
Funding Circle has already arranged £14.5bn in loans since 2010.
It also made a £1bn deal earlier this year.
What does this mean?
Bayview will provide the capital through its managed funds business. Funding Circle currently offers loans funded by a number of investors including banks, insurers and government-backed entities.
The decision, reportedly under discussion with the UK government, aligns with the UK’s efforts to attract global tech firms
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