FUNDING Circle is looking to bolster its engineering team to build a “new, future proof” global platform for its borrowers.
“We’re focused on building out a new, future proof, platform to support the ‘originations’ domain of our business – which means the platform that all our borrowers will use across the globe to apply for Funding Circle loans,” the peer-to-peer business lender said in a number of jobs listings.
“It requires us to care about the rapid future growth of Funding Circle and competing with an increasingly competitive market space, so the scale of our challenge is huge!”
A Funding Circle spokesperson told Peer2Peer Finance News that the firm has talked about building a single global platform in previous financial reports.
“It will allow us to create an even more efficient, faster and scalable borrower experience across all of the markets we operate in,” the spokesperson added
Funding Circle operates in its home market of the UK, as well as the US, Germany and the Netherlands.
With regard to the new, global borrower offering, it has completed migration of the US platform in 2018 and in 2019 it plans to extend the roll-out to its three other markets, Funding circle said in its 2018 results announcement.
The company had more than 150 engineers working on its global platform and automation target of 50 per cent by the end of 2020, as of its first-half 2019 report.
Since its launch in 2010, Funding Circle has lent $10bn (£8.2bn) worldwide.
Read more: Funding Circle hits $10bn lending milestone
Funding Circle said it currently has three engineering teams that work closely with the risk and customer analytic teams, plus the loan operations teams, to build “a solid, fast and scalable borrower pipeline to whisk borrowers from applying for a loan to listing the loan on our marketplace.”
It is looking to hire two software engineers and a junior software engineer in London to work on the platform.
Funding Circle manages a loan portfolio of £2.5bn in the UK, $1bn in the US, €156m (£141m) in Germany and a further €115m in the Netherlands.