FinTech firm Funding Circle reportedly eyeing £1bn float

FCA listing rules

UK peer-to-peer lending platform Funding Circle is eyeing an IPO.

According to Sky News, the firm is reportedly looking to hire advisers to oversee a £1bn-plus flotation in London, which could happen as soon as late autumn.

The firm, which launched in 2010, made headlines last year after it announced a $100m investment round led by Accel.

A UK FinTech unicorn, Funding Circle says it has matched lenders to tens of thousands of SMEs, distributing more than $5bn worth of loans since it was founded almost eight years ago.

Existing investors say the firm could hit a £2bn valuation once it goes public.

Backers include Baillie Gifford, Index Ventures, Rocket Internet, DST Global and Temasek Holdings.

The firm was co-founded by Samir Desai, Sam Hodges and James Meekings.