Funding Circle and Magnetar Capital UK Announce New Lending Partnership

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  • Partnership will leverage Funding Circle’s machine learning capabilities to deploy over £300m of funding to UK small businesses

Funding Circle, the UK’s largest small business lending platform, and a UK subsidiary of Magnetar Capital (“Magnetar UK”), a leading alternative investment manager, today announce a lending partnership which is expected to provide over £300m of funding for small businesses over a three-year period.

This partnership will allow Magnetar UK to support thousands of UK SMEs by leveraging Funding Circle’s technology and distribution platform. In turn, Funding Circle’s powerful machine learning models – driven by a decade of investment in technology and data – will provide Magnetar UK with a highly efficient and cost-effective mechanism to deploy capital into the real economy.

Funding Circle’s unrivaled, market-leading instant decision technology enables small businesses to apply for funding in an average of six minutes, with loan decisions in as little as nine seconds. This seamless feature helps provide small businesses with quick and easy access to financing, allowing them to grow, create jobs and boost the economy.

Magnetar UK joins a wide range of investors who lend through Funding Circle’s platform, including banks, asset management companies, insurance companies, government-backed entities, individuals and funds.

The partnership with Magnetar UK – which was advised by AgFe, a European private credit specialist – follows Waterfall Asset Management’s commitment last month to lend an additional £1 billion through the Funding Circle platform.

“We are delighted to welcome Magnetar UK to the Funding Circle platform. At a crucial time in the UK’s economic recovery, its commitment will enable thousands of small businesses to access the funding they need to invest, grow and create jobs in their communities. It’s great to see our technology and our machine learning capabilities used in this way by a wide range of investors.”

Lisa Jacobs

CEO at Funding Circle

“Magnetar UK has a proven track record of partnering with banks and other financial institutions, including fintech companies, to provide creative financing solutions for growing businesses. We are delighted to now partner with Funding Circle to generate funding solutions that will continue to fuel entrepreneurship across the UK and help SMEs to thrive. Funding Circle has the team, technology and expertise to create a significant impact across the UK SME economy.

Aidan McKeown

Portfolio Manager at Magnetar UK

ENDS

For more information

[email protected] / +44 (0) 203 667 2245

About the Funding Circle

Funding Circle is the UK’s largest SME lending platform. Founded in 2010, its market-leading and unrivaled instant decision lending technology enables small businesses to apply for financing in an average of six minutes, with loan decisions in as little as nine seconds. A wide range of investors use this technology and distribution platform to lend c. £14 billion to around 120,000 businesses worldwide. This provides small businesses with the quick and easy access financing they need to grow and boost the economy. In 2021, lending through the UK’s Funding Circle platform would have contributed £7.2 billion to GDP and supported 100,000 jobs.

About Magnetar

Founded in 2005, Magnetar is a multi-strategy alternative investment manager with approximately $13.8 billion in assets under management as of May 1, 2022. Magnetar seeks to achieve stable risk-adjusted returns by opportunistically utilizing a broad range of alternative credit and fixed income securities. , energy and infrastructure, and systematic investment strategies. Magnetar invests across all regions and corporate structures, in both public and private markets, leveraging the deep rigor of fundamental and quantitative analysis. Magnetar UK is based in London. For more information, visit www.magnetar.com.

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