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Peer2Peer Finance News | November 21, 2017

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Funding Circle and RateSetter make LinkedIn’s ‘Top 25’ companies list

Funding Circle and RateSetter make LinkedIn’s ‘Top 25’ companies list
Kathryn Gaw

TWO peer-to-peer lenders have been ranked among the UK’s most in-demand startups, according to a new list from LinkedIn.

Funding Circle and RateSetter have been placed at number eight and number 21, respectively, in the ‘LinkedIn Top 25 Companies – Startups’ list, which was released on Thursday morning.

The top 25 companies were whittled down from a longlist of almost 25,000 venture-backed companies, which met with a series of strict requirements. Each company had to be less than 10 years old, had to have at least 100 employees, must have remained independent and privately held, and had to have had at least one round of venture-backed funding.

Read more: The P2P Power 50

In a reflection of the changing economic trends, more than a third of the list was made up of fintech companies, including challenger banks Monzo and Atom, credit broker iwoca, and currency converters TransferWise and WorldRemit.

Funding Circle was the highest-ranking P2P platform, and it was praised for funding more than 28,800 companies over the past seven years, with more than £2.8bn allocated to borrowers.

Meanwhile, RateSetter was described as “a kind of matchmaking service for those who have spare cash to invest, and those who need a personal or business loan.”

Although LinkedIn listed the company’s global headcount at 215, a RateSetter spokesperson told Peer2Peer Finance News that it was now closer to 270.

Read more: FCA’s regulatory sandbox is helping fintech grow

This is the first time that LinkedIn has published a list of the top 25 startups, as a spin off from its annual ‘Top 25 Companies’ list.

The list was drawn from the social network’s 500 million members, and took into account employee growth, job seeker interest via views and applications, member engagement with the company and its employees.

Read more: Record-breaking year for fintech investment