Funding Circle appears to be getting closer to entering the credit cards market.
The peer-to-peer business lender said in its 2020 annual report that it was planning to launch credit cards for its borrowers and is now advertising for someone to lead the development of the product.
The platform has published a jobs advert for a director of cards and short term lending.
The selected candidate will lead the development of new lending products and will report directly to Funding Circle’s Europe managing director Lisa Jacobs.
The peer-to-peer business lender revealed in its 2020 annual report that it was looking at rolling out a range of new products such as a credit card for borrowers, new strategic partnerships, and an application programming interface (API) to embed its loan applications on other platforms.
It also advertised for a head of new products covering small- and medium-sized enterprise lending at the same time.
The platform, which is currently closed to new retail investors while it focuses on the government’s emergency lending schemes, said in its 2020 financial results that it will “leverage our technology to launch new funding solutions in the UK to help small business owners solve more problems” over the next 12 months.
Funding Circle has been asked for comment.