SAN FRANCISCO--(BUSINESS WIRE)--Funding Circle today announced its first place ranking in the Center for Financial Professionals (CeFPro) FinTech Leaders 2020 Report; winning the category of ‘Business Lending.’
The FinTech Leaders 2020 Report is the most comprehensive independent study of the global fintech ecosystem and rankings of the leading fintech players around the world. The research is industry-led with independent insight from CeFPro’s specialized FinTech Advisory Board of over sixty experts; evolving around the end-user perspective, it is inclusive of over 1,200 surveyed perspectives and votes from CeFPro’s community of finance, technology, operations, risk and compliance professionals. To download a copy of the report and review the methodology behind Funding Circle’s placing, visit www.fintech-leaders.com.
“CeFPro’s FinTech Leaders report takes the pulse of the industry through end-user votes and perspectives and is supported and endorsed by 60 international industry Advisory Board Members, from across multiple disciplines and geographies. The research report, along with the rankings, are formed from votes cast by end-users,” said Andreas Simou, Managing Director, CeFPro. “Funding Circle’s pole position in the Business Lending category was entirely decided by industry votes and can be considered an endorsement by their peers with what has been achieved in such a relatively short period of time.”
As the largest small business specialist lender in the world, Funding Circle has upended the traditional lending system and created a system that puts small business owners at the center. This modern lending approach enables small businesses to access fast, affordable and transparent funding for a variety of business needs; while investors have the opportunity to earn attractive, risk-adjusted returns from a previously inaccessible asset class. Funding Circle’s business lending platform is the largest operating in any of our geographies by total global loan volume, number of investors and loans outstanding.1 To date, Funding Circle US has originated loans to more than 14,000 US businesses, with US borrowers currently averaging 11 years in business and $1.4 million in annual sales. Funding Circle US recently marked $2 billion of cumulative loan originations and $1 billion of loans under management, meaning that within the United States the company holds more small business loans outstanding than almost 98% of US banks.2
“As with our Small Business Choice feature, we’re steadfast in our commitment to product enhancements that will improve the borrower experience and provide more tailor-made solutions.” said Bernardo Martinez, Funding Circle US Managing Director. “We’re thrilled for the recognition of Funding Circle’s work to improve small business’ access to the capital they need for managing their business.”
Visit www.fundingcircle.com. Follow Funding Circle on Twitter @FundingCircleUS.
Download the full FinTech Leaders Report at: www.fintech-leaders.com
1 By cumulative global originations and number of investors, and current global loans outstanding, according to Funding Circle internal data, OC&C analysis and estimates.
2 Federal Deposit Insurance Corporation (FDIC) Statistics on Depository Institutions. March 2019. “Amount of currently outstanding commercial and industrial loans less than $1,000,000 held in domestic offices.” https://www5.fdic.gov/sdi/download_large_list_outside.asp.