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Peer2Peer Finance News | July 21, 2019

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Funding Circle remains fastest growing P2P firm

Funding Circle remains fastest growing P2P firm
Tim Evershed

FUNDING Circle has retained its place as the fastest growing peer-to-peer lending firm in the latest Sunday Times Hiscox Tech Track 100.

Fellow ‘big three’ P2P platform Zopa also featured in the list, which was published on Sunday. However, the smallest member of the ‘big three’, RateSetter, has dropped out of the annual league table.

The table is compiled by research firm Fast Track and ranks the 100 fastest growing private tech companies in the country by sales over the previous three years.

The list was topped by Isle of Man-based communications provider, which achieved a 364 per cent rise in sales over the past three years.

Read more: Funding Circle, Zopa and RateSetter named amongst fastest growing tech firms

Funding Circle – which has now confirmed its plans to float on the London Stock Exchange – was the highest-placed P2P firm ranked at 41 with over 93 per cent growth in its sales during the period.

Assetz Capital made the list for the first time and was ranked 53rd in the league table.

Zopa, which came in at number 80, kept its place for the fifth consecutive year although it slipped down 31 places from 2017.

“We’re delighted to be listed once again as one of the UK’s fastest-growing tech companies,” said  Zopa’s chief executive, Jaidev Janardana.

“Making the list for a fifth consecutive year is a testament to our growth – but we’re only just getting started.

“Our plans to launch a next generation bank will bring us closer to our ambition to be the best place for money in the UK.”

Read more: Assetz has lent out over £100m over summer