Funding Circle, the leading small business loans platform in the UK, US, Germany and the Netherlands, has announced their expansion to Canada with their office to be located in Toronto.
Funding Circle will establish operations in Canada in the second half of 2019 and the business will be led by Tom Eilon, who previously led the commercial strategy for Funding Circle in the United Kingdom.
Since launching in 2010, Funding Circle has connected more than 60,000 small businesses around the world with financing through its online platform. Funding Circle's platform model provides businesses with fast and flexible access to competitively priced financing and allows investors to earn attractive, stable returns.
“We have been evaluating options for expansion over the last year. Canada's stable, growing economy coupled with good access to credit data and progressive regulatory environment made it the obvious choice,” said Tom Eilon, Managing Director, Funding Circle Canada. “The most important factor though was the clear need for additional funding options among Canadian SMEs. We are looking forward to officially launching later this year and supporting Canadian SMEs to access the finance they need to grow, create new jobs and fuel their local economies.”
“Funding Circle's entry into the Canadian market is a fantastic addition to the thriving Fintech sector in Toronto, and a welcome added option for small business to access finance,” said Jennifer Reynolds, President and CEO, Toronto Finance International.
For more information on the launch of Funding Circle Canada, visit http://www.fundingcircle.com/ca.