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Funding Circle passes the £50million mark
It was back on the 23rd April that we reported that Funding Circle had just passed the £30million mark in the amount of loans it had arranged. Today we can report that they have now passed the £50million mark. If our maths are correct this is equivalent to a 240% year-on-year growth rate, which is absolutely phenomenal in the current economic climate.
At this growth rate Zopa's clear position as the number one peer-to-peer lender in the UK will be under threat within two years. Well done to everyone at Funding Circle for this amazing achievement.