Funding Circle strengthens partnership with Waterfall Asset Management through a new £700 million deal

Funding Circle Holdings plc has announced a significant strengthening of its partnership with Waterfall Asset Management through a new £700 million deal, which includes a two-year forward flow commitment from Waterfall and senior financing from Citi. This transaction also involves Waterfall purchasing an existing loan portfolio valued at approximately £120 million. This move transitions Funding Circle's funding model from its balance sheet to institutional sources, aligning with its strategy to develop and scale new propositions. The deal enhances Funding Circle's capacity as a platform lender, enabling it to meet increased demand for SME credit and underscoring the long-term commitment of its partners to supporting UK small businesses.