FUNDING Circle has unveiled a £250m securitisation of its UK loans, backed by Waterfall Asset Management.
The securitisation forms part of Waterfall’s £1bn investment in Funding Circle loans announced at the end of last year.
“This latest securitisation further validates the attractive, risk-adjusted returns that are being generated for investors in SME loans,” said Sachin Patel (pictured), chief capital officer at Funding Circle.
“We look forward to continuing to work with Waterfall to support the growth of small businesses across the UK, driving much-needed job creation across the country as a result.”
The publicly-listed peer-to-peer business lender said that this latest deal brings the total amount of UK Funding Circle loans securitised to £1bn.
Funding Circle operates in the UK, the US, Germany and Holland.
New York-based Waterfall Asset Management is an institutional asset manager focused on structured credit and private equity investments with approximately $8.5bn (£6.6bn) in assets under management.
Waterfall has embarked on a number of deals in the UK’s P2P sector, including funding agreements with Lendable and ThinCats.