Funding Circle reports 'heightened demand' for loans in FY24.

Commercial lender Funding Circle said on Thursday that "heightened demand" for loans in FY24 had resulted in increased sales.

Funding Circle Holdings
06 March 2025 11:20:45

Source: Sharecast

Funding Circle stated loan originations had risen 33% to £1.4bn in FY24, partly due to "rapid adoption" of its shorter-term FlexiPay product, which saw transactions more than double to £492.0m.

The London-listed group stated revenues were up 12% at £142.6m, helping it turn a modest pre-tax profit of £800,000 for the year as a whole, a marked improvement compared to the prior year's £9.9m loss.

Chief executive Lisa Jacobs said: "2024 was a transformative year for Funding Circle. We successfully executed our plan to build a simpler, leaner, and more profitable business while making strong progress in expanding our Term Loans and FlexiPay offerings. The results we are reporting today show strong revenue growth of 23% to £160.0m and FY profit of £3.4m, ahead of market expectations."

As of 1115 GMT, Funding Circle shares were down 4.42% at 99.40p.

Reporting by Iain Gilbert at Sharecast.com

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