Funding Circle Holdings PLC

Funding Circle Holdings plc raised its full-year 2026 outlook after reporting strong first-half growth in lending, revenue, and profit, supported by demand for its term loans, FlexiPay, and business card products. The company said credit extended rose 52% year over year to £1.7 billion in the first half, while revenue increased 50% to £138 million. Profit before tax climbed fourfold to £24 million, and assets under management rose 15% to £3.3 billion. Management increased its 2026 guidance to revenue of more than £255 million and profit before tax of more than £40 million, which would represent a doubling from the prior year. Funding Circle also announced plans for a further share buyback of up to £25 million once its current program concludes, having already repurchased about £72 million of shares since March 2024. Chief Executive Lisa intends to step down by the end of September 2027, allowing time for a successor transition.

Funding Circle has launched a new mobile application for its FlexiPay and Card products, giving UK small businesses a centralised platform to manage finances on the go. FlexiPay customers can draw down funds, pay business bills, or settle with HMRC instantly, while the app stores supplier details to streamline recurring payments and spread costs over time. Cashback card users gain real-time visibility into cashback, upcoming Direct Debits, and company card controls. The app uses minimal mobile data, loads account information instantly, and saves payment progress so users can resume where they left off. It is available on the App Store and Google Play.

Funding Circle delivered a strong first half of 2026, with revenue climbing 50% to roughly £138 million and profit before tax reaching about £23 million. The group extended £1.7 billion in credit during the period, while assets under management grew to £3.3 billion. Within that, the Term Loans business originated £1,050 million and expanded its AuM to £3.0 billion, and the FlexiPay and Card business processed £640 million in transactions with AuM of £300 million. Unrestricted cash rose to £136 million, supported by trading performance and monetisation of the shorter-term loan portfolio. The company remains on track to meet its full-year guidance of at least £235 million in revenue and at least £35 million in profit before tax.

Funding Circle has completed SBOLT 2026-1, its tenth public securitisation of loans originated on its platform, pushing total issuance across all ten transactions to approximately £2.5 billion since 2016. The transaction, comprising loans owned by Waterfall Asset Management, marks the first participation by the British Business Bank in a Funding Circle public securitisation. The programme has supported lending to more than 33,000 UK small businesses. Funding Circle says the deal was well-received by investors, with strong pricing achieved despite current market conditions.