Billionaire Anders Povlsen to back p2p lender Funding Circle IPO
One of Britain's biggest landowners is set to buy a shareholding in peer-to-peer lending platform Funding Circle when it floats this Autumn.
Danish billionaire Anders Povlsen who also owns stakes in fashion retailers ASOS and Zalando, will buy at least 10 per cent of the company up to a value of £1.65bn, Sky News reported.
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Funding Circle, one of the UK's biggest P2P lenders, is expected to announce its IPO in the next two weeks with a large offering to retail investors and a view to begin trading in October.
The UK fintech firm struck a deal with Alcentra to buy $1bn (£77m) of loans that originated on the lender's platform, Bloomberg News reported earlier this week.
Funding Circle, which has operations in the UK, US, Germany and the Netherlands, has originated £3.8bn of loans in the UK.