Bernardo Martinez is stepping down as managing director of Funding Circle US after two years in the role.
Martinez (pictured) left PayPal Working Capital to lead Funding Circle US in March 2018 and will now return to PayPal in a global role.
Funding Circle’s global head of data and analytics Vipul Chhabra will become interim managing director.
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“I’m extremely proud of my work with Funding Circle US over the past two years,” said Martinez.
“Our goal has always been to support American small businesses—the backbone of the economy—and I can truly say that Funding Circle US is at the forefront of aiding small businesses, even in a historic crisis.
“While my time with Funding Circle US is coming to a close, I’m confident that the company and it’s leadership will continue to innovate and deliver for small business owners.”
Last month Funding Circle US was approved for the Paycheck Protection Program, the US scheme to deliver funding to small businesses impacted by Covid-19.
“Having launched our Paycheck Protection Program lending, this is a historic period for Funding Circle,” said Chhabra at the time.
“I’m committed to our mission of supporting and funding American small businesses, which is as important today as it’s ever been.”