Funding Circle is the largest P2P lending platform in the UK and is one of the first major UK fintechs to enter public equity markets.
Funding Circle’s second largest investor, the Danish billionaire backer of ASOS, Anders Holch Povlsen has increased his stake in the P2P lending platform.
The private holding company of Povlsen, had just over 10 per cent of the total share capital after agreeing to buy the shares in the Funding Circle IPO. It has increased the stake to 11.26 per cent, worth an additional £8.5m, earlier this week according to stock market filings.
Povlsen is the second largest shareholder behind Index Ventures which has, according to the last public records, from 31 December 2018, at 16.94 per cent. The VC giant has backed Funding Circle through a number of rounds including its $2.5m Series A in 2011 where it was the sole investor through to its $100m Series F in January 2017.
Index Ventures trimmed some exposure since the IPO in October 2018, as in the pre-IPO Registration Document it had nearly 20 per cent of total shares.