Temasek-backed Funding Circle plans IPO at $2.1b valuation in H2: Report

Temasek-backed Funding Circle plans IPO at $2.1b valuation in H2: Report

People walk through the lobby of the London Stock Exchange in London, Britain August 25, 2015. REUTERS/Suzanne Plunkett/File photo

Funding Circle, the largest peer-to-peer (P2P) lender in the UK, is planning to list on the London Stock Exchange (LSE) that will see it float at an estimated valuation of £1.5 billion ($2.1 billion), according to a report by Britain’s Sky News.

Funding Circle’s last round of funding in January 2017 saw it raise $100 million at a valuation exceeding $1 billion. That round was led by Accel Partners and joined by Singapore state investor Temasek Holdings. Other major shareholders in the firm include Baillie Gifford, Edinburgh-based fund manager DST Global, Index Ventures and Rocket Internet.

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