April 23rd, 2019.

Small business lender Funding Circle increased the amount of cash it lends to SMEs by 23 per cent to £644 million in the first three months of this year.

Of this, £419 million has gone to British SMEs alone. Funding Circle also lends to small businesses in Germany, the Netherlands and the US.

In 2018 Funding Circle lent £2.3 billion to small business across all four territories, of which the UK carved out a £1.5 billion share of peer-to-peer business lending.

The total amount of private investor cash Funding Circles manages increased by 44 per cent to £3.4bn in the first three months of this year – a record high. The UK accounted for £2.4 billion of this total.

Revenue growth also shot up by 40 per cent.

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