16th Jul 2026 11:03
(Alliance News) - Funding Circle Holdings PLC on Thursday said it is "firmly on track" to meet full-year expectations, after a strong first half which saw revenue jump 50%.
In response, shares in the London-based lending platform focused on small and medium enterprises jumped 11% to 196.40 pence each in London on Thursday. The stock earlier set a new 52-week high of 215.00p. It is up 51% over the past 12 months.
Funding Circle said revenue grew 50% to GBP138 million in the half-year that ended June 30 from GBP92 million a year prior, with pretax profit nearly quadrupling to GBP23 million from GBP6 million.
Chief Executive Lisa Jacobs said it has been another "standout" six months for Funding Circle.
"We've built upon last year's momentum with strong revenue and profit growth, driven by our continued product development and market demand," she added.
Overall credit extended for the half was GBP1.7 billion, up from GBP1.1 billion a year ago, with assets under management rising to GBP3.3 billion from GBP2.8 billion.
The "strong" first-half performance leaves Funding Circle "firmly on track" to achieve 2026 guidance of at least GBP235 million revenue and at least GBP35 million pretax profit, it said, "while allowing us to continue investing for future growth".
This would be up from revenue of GBP204.3 million and pretax profit of GBP20.3 million in 2025.
Term Loans business grew originations to GBP1.05 billion from GBP736 million on-year, with AuM growing to GBP3.0 billion from GBP2.7 billion.
"We continue to have a strong funding pipeline with two new forward flow agreements totalling GBP900 million signed in the half," the firm said.
The FlexiPay and Card business saw transactions increase to GBP640 million, up 71% from GBP375 million the year prior, with AuM of GBP300 million, nearly double the prior year at GBP169 million.
"Our Term Loans business is highly cash-generative, which has enabled us to scale our FlexiPay and Card products. We remain focused on profitable growth - backing even more small businesses across the UK with the funding they need to succeed," said CEO Jacobs.
By Jeremy Cutler, Alliance News reporter
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