Jeroen is Managing Director of Funding Circle The Netherlands, part of the world's leading lending platform focused exclusively on small business finance. Jeroen has built the Dutch business from scratch, launching the platform back in February 2015. Since then the business has doubled each year. In the first half year of 2017 the platform did as many loans as in the full year 2016. Before joining Funding Circle, Jeroen worked at ABN AMRO bank in various positions, ranging from heading up a local branche, to being a commercial relationship manager for SME clients and in his last job he was responsible for restructuring SME businesses across the country. Jeroen holds degrees from Leiden University and the London School of Economics. Since launching in 2010, investors at Funding Circle – including 69,000 individuals, financial institutions, the listed Funding Circle SME Income Fund and Government – have lent more than £3.2 billion ($4 billion) to 35,000 businesses globally. Approximately 10% of investor money now comes from Government sources, including the British Business Bank, European Investment Bank, KfW, the German government-owned development bank, and local councils across the UK. Funding Circle is the world's leading marketplace exclusively focused on small businesses and one of the best capitalized platforms globally, having raised ~$380 million from some of the world’s largest investors. The lender was the first lending platform to announce a formal referral partnership with Santander, one of the UK’s leading high street banks, and has since announced a similar partnership with RBS.
Ronald said people are excited for a European wide P2P regulatory framework to be implemented.
Anne said there is a fintech action plan without the action at the moment. Ways to improve this include scaling up models within Europe which will remove obstacles and introduce fintech solutions such as blockchain which remove and control cyber risk.
P2P regulation should be finalised by July 2020 following a successful trial period.
In five years’ time, Luuc believes there will be both European and local platforms available, increasing competition in the market by lowering barriers to entry. Only the niche players will remain.
16th October 2017 | Ryan Weeks