Funding Circle unveils first UK sponsored deal

600X350_SME Funding
By Owen Sanderson
11 Nov 2019

Funding Circle announced a new UK SME ABS on Monday from its SBOLT programme — the first from the shelf where it is acting as a deal sponsor, rather than just as servicer. Deutsche Bank, which has run all the SBOLT trades to date, is joint lead, with Citi stepping in as arranger.

The lending platform, which went public last year, has been moving beyond acting as a pure servicer, entered the securitization market when one of the institutional investors on its platform wanted to leverage its book to that of a true non-bank sponsor, keeping equity in the deal.

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