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.
“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.”