Funding Circle extends Bayview partnership with lending surpassing £1bn
Funding Circle is expanding its partnership with US-based Bayview Asset Management for its term lending product, taking the total funding provided by the investment manager via the UK platform to over £1bn.
The two credit facilities will be backed by JP Morgan and Citi and are expected to enable thousands of small and medium-sized businesses in the UK access to financing they need to invest and grow.
“Our long-standing relationship with Bayview, combined with credit facilities from Citi and JP Morgan, has been instrumental in our ability to provide accessible and efficient funding solutions to small businesses,” said Dipesh Mehta, chief capital officer at Funding Circle.
George Deves, co-head of northern Europe ABS at JP Morgan, added: “Small businesses are the backbone of the economy, and we are proud to provide them with the capital they need to thrive via our partnership with Funding Circle. This renewal signifies our joint commitment and confidence in this important segment.”
The announcement comes after Funding Circle returned to profitability in 2024 and recorded a 23% revenue increase.
Bayview, headquartered in Florida, has more than $20bn in assets under management. It first partnered with Funding Circle in 2022 to deploy £700m in funding to small businesses over a period of 18 months.
Read more: Funding Circle swings into profit in “transformative year”
Read more: Bayview launches fund finance strategy
