Business
Funding Circle Q1 2019 Update
Funding Circle Q1 2019 Update.
About this update from Funding Circle Holdings Plc
[{"type":"text","content":"\n \nRNS Number : 5574W Funding Circle Holdings PLC 18 April 2019 \n\n18 April 2019\nFunding Circle Holdings plc\nQ1 2019 Update\n \nFunding Circle Holdings plc (\"Funding Circle\" or the \"Company\"), the leading small and medium enterprise (\"SME\") loans platform in the UK, US, Germany and the Netherlands, today announces updates to its statistics pages for the three months ending 31 March 2019 (the \"Quarter\") and selected highlights from the Quarter.\nThe data by country included in this announcement is also available on the Company's website at corporate.fundingcircle.com/investors/loan-performance-statistics.\n\nHighlights\n· Loans under management of £3.4 billion, up 44% compared to the same period last year. Total originations of £644 million vs £525 million in Q1 2018, up 23% \n· Revenue growth of approximately 40% year-on-year through a combination of greater loans under management and originations, higher transaction yield, due in part to policy changes last year in the US, plus growth in other revenue lines\n· In Q1, Funding Circle announced two new institutional investor products to launch in 2019: private direct lending funds to be launched in continental Europe and the UK, and ABS bond products to be launched in the US and UK\n· On 17 April, the European Investment Bank agreed to lend €100 million over the next two years to small businesses in Germany and the Netherlands \n· On 10 April, Pollen Street Capital completed a securitisation of UK loans originated on the Funding Circle platform. The £187 million portfolio was rated by three rating agencies, with its senior bond rated Aa3 / A (high) / AA- by Moody's, DBRS and Kroll respectively\n \nOutlook \nFunding Circle confirms that the Group is trading in line with the Board's expectations for the full year.\n \nGroup performance\n\n\n\n\n \n\n\n \n\n\nQ1 2019\n\n\nQ1 2018\n\n\n%\n\n\n\n\nLoans under management\n\n\n£m\n\n\n3,378\n\n\n2,342\n\n\n44%\n\n\n\n\nOriginations \n\n\n£m \n\n\n644\n\n\n525\n\n\n23%\n\n\n\n\n \nInvestor Returns\n· Across all geographies, investor returns on a net basis are expected to deliver 4.5-8.4% for 2018 and 5.0-8.5% in 2019\n· &nbs...