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Funding Circle Looks to Break Even by Mid-2020

Funding Circle Looks to Break Even by Mid-2020

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EuropeFintechNews Roundup
··1 min read

Samir Desai recently chatted with Peer2Peer Finance News; Desai noted that the company started 2020 in a very strong position and that he is very confident that the business will close its loss margin by mid 2020; returns were higher in 2019 than in 2018 which Desai believes proves out their model; in the second half of 2019 Funding Circle UK generated £3 million of operating profit and also grew loans under management by 17%; full-year results which were shared today showed a pre-tax loss of £84.2 million in 2019 which included a non-cash exceptional write-down related to German and Dutch operations. P2P Finance

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