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572 Funding Circle sells loss-making US business for £33m

UK Tech News
Robert Scammell @ UK Tech News 3 place · 06/25/2024 05:12 EDT

Funding Circle sells loss-making US business for £33m

British SME lending platform Funding Circle has agreed to sell its loss-making US business to iBusiness Funding (IBF) for £33m. IBF, which provides lending solutions for banks and lenders, is acquiring Funding Circle’s US business for a total cash consideration of £33m. This figure takes into account Funding Circle US’s losses of £23m in 2023, ...

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