Funding Circle
UK SME lender (FRN 722513) founded 2010.
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- Institutional only
- Minimum investment
- £3.0B (Dec 2025)
- AUM / raised
- 2010
- Launched
- UK
- Geography
- No
- Secondary market
- Debt
- Investment type
Funding Circle in ten seconds
Structured fields recorded the same way for every platform in the directory, so they can be compared like for like.
- Asset classes
- Private Debt
- Investment type
- Debt
- FCA authorised · Directly authorised (FRN 722513) · FCA Register
- Operator
- Funding Circle Ltd · Co. no. 06968588
- Company status
- Active
- Institutional only
- £3.0B (Dec 2025)
- Founded
- 2010
- Geography
- UK
- No
- Operating status
- Active
- Last reviewed
- June 2026
- Website
- fundingcircle.com
What is Funding Circle?
Funding Circle Limited (FRN 722513) is a UK SME lender founded in 2010 and directly authorised by the FCA (not an Appointed Representative). The parent group, Funding Circle Holdings plc, is listed on the London Stock Exchange.
The platform's retail peer-to-peer (P2P) investor offering — and the retail secondary market — were permanently closed to new investments on 10 March 2022. New originations are now funded by institutional investors and Funding Circle's own balance sheet rather than by individual retail investors.
Company reporting cites assets under management of approximately £3.0 billion as of December 2025 and cumulative originations of around £17bn to date. Historically the group also operated in the US, Germany and the Netherlands, but has since concentrated on the UK market.
How does Funding Circle work?
For borrowers, SMEs apply online and are underwritten by Funding Circle's internal credit models. Borrower pricing — including completion and transaction fees — is disclosed at application and varies by product. Payment products such as the Cashback business credit card are distributed in partnership with authorised e-money/payment firms (e.g. Modulr FS Limited, Monavate Ltd), which are the regulated issuers for those services.
For investors, individual retail investors in the UK can no longer make new investments via the Funding Circle platform. Lending is funded through forward-flow arrangements, warehouse facilities, securitisation and balance-sheet capital. The platform therefore no longer publishes retail minimums, a retail fee schedule, or a platform-run secondary market.
What does Funding Circle offer?
The current product set focuses on SME credit and business payments:
- Business term loans — unsecured and secured loans to UK SMEs, priced and sized case-by-case.
- FlexiPay — a revolving line of credit and transaction-based facility for managing cashflow and spreading supplier payments.
- Cashback business credit card — issued in partnership with authorised e-money/payment providers.
Revenue now comes primarily from borrower fees and servicing/institutional funding arrangements. Historical retail-investor return statistics relate to the pre-2022 P2P model and are not indicative of the current institutional lending programme.
Who is Funding Circle for?
Borrowers: UK SMEs (limited companies and LLPs) seeking working capital, cashflow facilities or business payment products.
Investors: the UK origination book is now funded by institutional investors and the company's balance sheet. Individual retail investors cannot start new positions through the platform and cannot rely on a platform-run secondary market to exit legacy retail loan parts.
What stands out, and what to weigh against it
long operating history (since 2010), substantial cumulative originations, experienced SME underwriting and servicing, and diversified institutional funding lines that support consistency of lending availability.
Liquidity for legacy retail investors — the retail platform and secondary market closed in March 2022, removing the platform-provided exit route for remaining retail loan parts.
Clone-firm warnings — the FCA has published warnings about scammers impersonating Funding Circle; verify any communication via the FCA Register (FRN 722513).
Historical FOS complaints relating to the pre-closure retail operation (defaults, recoveries, liquidity); some were not upheld where Funding Circle was found to have met its obligations.
Credit risk — as with any non-deposit SME lending, defaults and recoveries are the primary drivers of investor outcomes.
FSCS: The Financial Services Compensation Scheme does not cover investments in loans or e-money in the way it covers bank deposits. Funds held with e-money partners are subject to safeguarding rules, not FSCS deposit protection.
This is Other.'s editorial assessment based on the information reviewed. It is not a recommendation.
Before you go further
Points we would verify against the platform's current documents rather than take from this page.
- Retail closure (10 March 2022)
is the single most important change — no new retail investments and no platform-managed exit route for legacy loan parts.
- Don't extrapolate
pre-2022 retail return and default statistics to the current institutionally funded book.
- Verify communications
against the FCA Register (FRN 722513) to avoid clone firms impersonating Funding Circle.
Some externally circulated claims (e.g. specific index membership or securitisation counts beyond company reporting) could not be verified from supplied material and should be treated as unverified.
Sources and methodology
- Last reviewed
- June 2026
- Sources
- fundingcircle.com (About, Resources, Lender Terms), corporate.fundingcircle.com (FY2024 results, leadership, year-in-review), FCA Register (FRN 722513), FCA clone-firm warning (Funding Circle Loans), London Stock Exchange (FCH announcements), uk.trustpilot.com/review/fundingcircle.com
- Methodology
- How we research platforms →
Editorial research, not financial advice. See the full disclaimer in the site footer. Are you the owner of Funding Circle or representing the company? To submit an addition, clarification or correction, get in touch or use our contact form.
Visit the platform to review current opportunities and terms.
You will leave Other. Read the offer document and check the FCA register entry before investing.
Funding Circle vs other Private Debt platforms
| Funding Circle | Crowd2Fund | Crowd for Angels | Charm Impact | |
|---|---|---|---|---|
| Minimum | Institutional only | £250 | £100 | $50,000 |
| FCA status | FCA authorised | FCA authorised | FCA authorised | Not FCA regulated |
| Structure | Debt | Debt, Equity | Debt, Equity | Debt |
| Secondary market | No | No | No | No |
| Founded | 2010 | 2014 | 2014 | 2018 |
| Geography | UK | UK | UK | Africa & Southeast Asia |
Understanding private lending, direct loans, and debt investments. How non-bank lenders generate yield and how individual investors can access the asset class.
- What is the minimum investment on Funding Circle?
- Funding Circle's minimum investment is Institutional only.
- Is Funding Circle regulated by the FCA?
- Yes. The FCA Register lists it as: Directly authorised (FRN 722513).
- Does Funding Circle offer a secondary market?
- No, Funding Circle does not currently offer a secondary market.