Funding Circle Holdings PLC - London-based commercial lender - Announces a new lending partnership with New York-based alternative investment manager Varadero Capital LP. The partnership will provide funding of up to GBP400 million to small businesses across the UK. Under the 18-month partnership, Varadero will "support thousands of small and medium enterprises" as Funding Circle provides its machine learning models. The funding is built on a previous partnership between the two companies, Funding Circle explains.
Current stock price: 58.00 pence, untraded on Thursday
12-month change: down 62%
By Tom Budszus; tombudszus@alliancenews.com
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Funding Circle (FCH)