Funding Circle, the UK's leading SME finance platform, today announces that Lisa Jacobs has informed the Board of her intention to step down as CEO, by no later than September 2027. Lisa joined Funding Circle in 2012 and was appointed CEO in January 2022.
The Board will commence a formal search for Lisa's successor. In the meantime, Lisa will continue in role, delivering against the Company's attractive growth and strategic plans, and will work closely with the Board to ensure a smooth and orderly transition. The Board will provide an update in due course.
Ken Stannard, Chair said:
Although she is not leaving us for some time, on behalf of the Board and all our Circlers, I want to thank Lisa for her outstanding and ongoing contribution to Funding Circle. She has transformed the business, advanced our mission and built a great team. When she joined in 2012, Funding Circle was a start-up built on a simple conviction: that technology could transform how small businesses access finance. Since then, we've extended more than £18 billion in credit to more than 135,000 SMEs, and delivered the transformation plan set out in March 2024 to build a simpler, high growth and more profitable business.
We will be very sorry to say goodbye to Lisa, but we also appreciate that 14 years is a long time. We respect her decision and how she has chosen this timing to coincide with the strong momentum of the business. Lisa is determined to leave Funding Circle in the strongest position possible and ensure a smooth transition. The Board and I are fully focused on finding the right candidate who will build on our strong platform for growth.
Lisa Jacobs, CEO, said:
I have loved being part of Funding Circle's growth story over the last 14 years. I'm privileged to work alongside such a great team of talented and dedicated Circlers. I'm proud of what we have achieved together for the business, Circlers and the small businesses we have backed up and down the country.
Today's results show that the business is in the best position that it has ever been. We have shown strong growth and profitability and great foundations for the future - and now feels like the right time to start the process of handing over the reins.
This is a brilliant business with an important mission. I'm confident the best is yet to come and I remain fully committed to delivering against our attractive growth plans and, when the time comes, ensuring a smooth transition to my successor.
For further details:
ir@fundingcircle.com
press@fundingcircle.com
Headland Consultancy
Stephen Malthouse and Jack Gault (+44 20 3805 4822)
About Funding Circle
Funding Circle (LSE: FCH) is the UK's leading SME finance platform. Since 2010, we have extended more than £18bn in credit to over 135,000 UK businesses, helping them power the economy and their communities.
By combining proprietary AI-powered credit models with a human touch, we provide a seamless experience that allows SMEs to borrow, pay later, and spend through a single ecosystem. For institutional investors, Funding Circle offers access to an attractive, underserved asset class through a platform built on deep data and a proven track record of robust returns.
This announcement contains inside information as defined in Article 7 of the Market Abuse Regulation (No 596/2014). The person responsible for arranging the release of this announcement on behalf of Funding Circle is Sarah Whiteley, Chief Legal Officer & Company Secretary.