Funding Circle (#FCH) – agreement for sale of US business for £33m

Funding Circle (#FCH) – H1 further loss, argues including investment in “growth opportunities”

Funding Circle (#FCH) – appointment of Investec as a joint corporate broker with immediate effect, hmmm

Why I am still leaving AB Foods, Funding Circle and Restaurant Group to the experts!

Where do we start this Thursday on the UK markets? Surely it has to be Associated British Foods (ABF) and its (unsurprising) iffy update.

Funding Circle (#FCH) – H1 profit fall, reduces income outlook due to macro environment

Funding Circle (#FCH) – CEO Samir Desai “has decided” to move to NED role, UK MD Lisa Jacobs to become CEO

Funding Circle (#FCH) – H1 swing to profit, though notes “reduction in lending”

Funding Circle (#FCH) – c.£63m sale of SME loans in its two US warehouses

Funding Circle (#FCH) – trading “stronger than expected”, but notes helped by government schemes

Funding Circle (#FCH) – reached “AEBITDA profitability in the second half of 2020”… though that manipulated bullshit 'profitability'

Don't worry Funding Circle shareholders, your company is 'close to AEBITDA break-even in H2'!

A real ramshackle range of regulatory news updates today but I focus here on Funding Circle (FCH). I first wrote about this one in the summer of last year, after I noticed an office of its during a business trip of mine in San Francisco. Suffice to say it was 'big and bold on the second floor of a nice small scale development in the middle (and most expensive part) of the city'. In that article, I highlighted the huge IPO shocker from a 440p listing price to just 135p then. The strategic car crash continued...

Funding Circle (#FCH) – argues UK “good progress”, but ‘warehoused’ loans impact & US restructuring

Funding Circle enjoys a share price romp but frankly it is still clutching at straws

I have written on Funding Circle (FCH) a few times on this website, most recently here where I noted that targeting 'adjusted EBITDA break-even' and continuing to expect free cash outflows hardly made a compelling business case even before you considered the lack of the validity of the business model given 'it is late to the lending party and hence likely to be skewed to a bunch of loans which the big banks - for whatever reason - have passed on'. Today's update from the company sounds bullish as it has gained 'accreditation to join the British Business Bank's (BBB) Coronavirus Business Interruption Loans Scheme (CBILS)'...

Funding Circle – CFO “to step down” (& why the omission of company performance data?)

Its shares already down from a 440p 2018 IPO price to little more than 80p, now a “Directorate Change” announcement from SME loans platform company Funding Circle (FCH) – and the shares further down, towards 78p…

Funding Circle (#FCH) – CFO Sean Glithero resigns, to be succeeded by current Vanquis Bank CFO Oliver White. Good luck chap!

Funding Circle gets so desperate that it asks me if I would like a loan?

Whilst the country is a matter of days from an important political decision, back in the world of markets and companies, I see my old pals at Funding Circle (FCH) are continuing to struggle with a sub one quid share price and a variety of excitable press disclosures including the introduction of a 1.25% exit charge for investors wishing to re-sell their loans in order to turn their savings back into cash.  And naturally it is not as if the ball has been smashed out of the park in terms of returns and related.  

Bizarre Funding Circle and still backing the man on Superdry

I see there is another bizarre story around Funding Circle (FCH) in the Sunday press with the observation that the company is 'diverting some borrowers away from its peer-to-peer lending site to rivals and traditional banks...as a way to help borrowers seeking larger unsecured loans above £500,000'. 

Funding Circle (#FCH) – “updates to the lending experience for retail investors in the UK, following a recent review”

Yet another crisis at Funding Circle - this could go all the way to zero!

You all know what I think about the peer-to-peer lending Funding Circle (FCH) which i have written about negatively a couple of times in the last few months, most recently here   Back then I concluded 'you do not need to get involved... unless you are a desperate business which really, really needs finance and the mainstream banks have prudently turned you down already. For the rest of us, grab some popcorn and watch the ongoing post-IPO car crash'.  Broadly speaking this still feels a very, very prudent position to take.  

Funding Circle – where did it all go wrong?

Many people who work outside the financial services do not believe it when I say that some of the greatest stories can be found in the regulatory news statements by listed companies. And by 'great', of course I mean both the simply awe-inspiring...and the absolutely shocking…