The British start-up Funding Circle is currently worth around £ 260 million, as much as some up-and-coming fintechs in the start-up phase. The share price of CEO Samir Desai’s credit platform has fallen year after year since the IPO, when the company was once valued at more than £ 2 billion. “Samir is a really good founder, if he can’t do it with his team, who can do it?” Says another fintech founder who knows him well.
You can read the background to the crisis today on Finance Forward, the new finance portal from Personal-Financial.com and OMR. You can register for the daily newsletter here.