Peer-to-peer lender Funding Circle’s annual losses increased on higher marketing costs and charges related to its recent IPO. Peer-to-peer lender Funding Circle’s annual losses increased on higher marketing costs and charges related to its recent IPO. The company posted revenue of £141.9 million for 2018, a 55% increase year-on-year, which exceeded its 50% guidance. But pre-tax losses widened to £50.7 million from £36.3 million as it stepped up marketing activities to support its international growth ambitions. Funding Circle, which launched in 2010, matches lenders to small business borrowers and floated on the London Stock Exchange last September with a valuation of £1.5 billion.

Source: Irish Independent March 07, 2019 10:07 UTC