Funding Circle Posts Record Revenue as CEO Lisa Jacobs Announces Succession Plans | LeapRate
Funding Circle reported strong half-year results on Tuesday, alongside news that CEO Lisa Jacobs intends to step down by no later than September 2027.
The UK small business finance platform posted revenue of £138.2 million for the six months ended 30 June 2026, up 50% year-on-year from £92.3 million. Profit before tax quadrupled to £24.1 million, compared with £6.0 million in the same period last year, lifting the PBT margin to 17.4% from 6.5%.
Credit extended rose 52% to £1,690 million, with the company supporting a record 18,000 SMEs during the period. Assets under management grew to £3,253 million, up from £2,829 million a year earlier.
Term Loans remained the primary profit driver, with PBT rising to £28.6 million, while FlexiPay and Credit Card transactions increased 71% to £640 million and narrowed losses to £4.5 million.
Given the strong performance, Funding Circle upgraded its full-year 2026 guidance, now expecting revenue above £255 million and PBT above £40 million, both raised from previous targets.
The company also plans a further £25 million share buyback once its current programme concludes, bringing total buybacks to £100 million since March 2024.
Separately, the company confirmed that Jacobs, who joined Funding Circle in 2012 and became CEO in 2022, will remain in her role while the Board conducts a formal search for her successor.
Chair Ken Stannard praised her contribution, noting the company has extended more than £18 billion in credit to over 135,000 SMEs under her leadership.
