It was a positive, if not stratospheric, debut. After raising £300 million in its IPO, Funding Circle’s stock (trading under FNIG.L) opened at 460 pence, dipping as low as 435 pence, and finally closed out the day flat.
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P2P lender Funding Circle closes flat in London
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“We have always believed Funding Circle would be well-suited to the public markets and today’s milestone is recognition of the strength and global impact of our model,” Samir Desai, CEO and co-founder of Funding Circle, said in a statement. “We look forward to starting this exciting new chapter for the business as we focus on growth across all markets and seek to create a better financial world for small businesses and investors. I am pleased to welcome our new shareholders and I would like to thank my fellow Circlers for all their hard work since we launched. Funding Circle is a very ambitious company and we are excited to continue growing our business over the coming years. The UK is a great place to start and grow a FinTech business and we are proud of today’s accomplishment.”
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