LONDON, July 2, 2026, 00:01 BST
- Funding Circle ended Monday at 158.60p, gaining 7.02%. Volume was 1.73 million shares.
- Company’s most recent filing lists 296.7 million voting shares and 8.1 million in treasury following buybacks.
- The shares remain under all five broker target prices tracked by the company, despite the recent rally.
Funding Circle Holdings Plc (LON:FCH) rose 7.02% Wednesday, putting a spotlight on the lender’s reduced share count after the late June voting-rights notice and recent share buybacks. Shares ended at 158.60p, up 10.40p, after swinging from 147.00p to 159.20p. About 1.73 million shares changed hands, more than double Google Finance’s average of 780,620.
LSE trading closed with Funding Circle quoted at 157.60p to sell, 158.00p to buy, up from a 148.20p close. Hargreaves Lansdown’s broker page showed the FTSE 250 up 1.38% on the day, but Funding Circle posted a much bigger one-day gain.
| Market measure | Latest reading |
|---|---|
| Funding Circle last trade | 158.60p |
| Change on the day | up 10.40p, or 7.02% |
| Day low-high | 147.00p to 159.20p |
| Shares traded | 1.73 mln |
| Volume vs Google norm | 2.2x |
| Market cap (Google) | £470.34 mln |
| FTSE 250 HL move | +1.38% |
Funding Circle reported its total voting rights as of June 30 in a filing over the last 48 hours. The company listed 304,741,576 ordinary shares in issue, with 8,057,917 of those in treasury. That leaves 296,683,659 shares carrying voting rights.
This is relevant for investors since the market now prices Funding Circle based on a smaller share count after the buybacks. At Wednesday’s close, the voting shares put equity value at roughly £470 million, which matches the market cap listed on Google Finance. Treasury shares make up around 2.6% of issued listed share capital.
| Buyback and share-count math | Figure |
|---|---|
| Shares repurchased June 22-26 | 173,470 |
| Expected cash out on those | £250,683 |
| Average buyback price paid | 144.51p |
| Closing price July 1 | 158.60p |
| Unrealized gain for that batch at close | about £24,400 |
| Treasury shares held June 30 | 8,057,917 |
| Voting shares counted June 30 | 296,683,659 |
Funding Circle picked up those shares on the London Stock Exchange, using Investec Bank between June 22 and June 26. The trades are part of a buyback plan announced in May 2025. The company’s daily weighted average price for the buybacks was between 141.1775p and 147.2383p, both lower than where the stock closed on Wednesday.
The rally trimmed the discount to broker targets but didn’t close it. Funding Circle’s analyst-consensus page, last updated April 22, shows five firms with targets between 190p and 300p: Deutsche Numis and KBW both at 190p, Investec at 220p, Canaccord at 300p and Shore Capital at 193p. The average works out to 218.6p, about 38% ahead of where shares ended Wednesday.
| Company-compiled consensus | 2026 | 2027 | 2028 | 2029 |
|---|---|---|---|---|
| Revenue view | £235 mln | £263 mln | £294 mln | £321 mln |
| Profit before tax view | £35 mln | £51 mln | £63 mln | £74 mln |
Funding Circle’s March numbers gave investors the earnings base they needed for that target gap. The company said 2025 revenue rose 28% to £204.3 million. Credit extended climbed 29% to £2.45 billion. Profit before tax, excluding exceptional items, came in at £20.3 million, up from £3.4 million in 2024. CEO Lisa Jacobs said Funding Circle had “hit our 2026 revenue guidance a year early.” EQS News
Institutional money is a key part of the equity argument here. On June 18, Funding Circle announced it finished SBOLT 2026-1, its tenth public securitisation of loans from its platform, pushing total securitised issuance to around £2.5 billion since 2016 and supporting over 33,000 UK small businesses. Dipesh Mehta, chief capital officer, called the pricing on the deal “strong.” Investegate
Funding Circle earlier this month extended a £200 million forward-flow deal with Deutsche Bank AG (ETR:DBK). CEO Mehta said the ongoing renewals show backers support the platform and its returns. The lender also said its AI-driven credit models spot risk three times better than standard bureau scores.
Funding Circle is still down sharply from its IPO. The stock closed Wednesday at 158.60p, leaving it about 64% below its 2018 listing price of 440p, per Investegate’s company page.
