Funding Circle's CEO Lisa Jacobs has told the board she will step down by September 2027 after more than a decade at the company. The board has started searching for a successor as the platform continues to expand its SME lending operations
Funding Circle's leadership is set for a major change as CEO Lisa Jacobs has formally notified the board of her intention to leave her post by September 2027. The announcement triggers a multi-year transition process at one of the UK's most prominent business lending platforms, with the board now actively seeking a new chief executive to steer the company's next phase.
Jacobs' decision comes at a time when Funding Circle has reported strong business momentum, having facilitated over £18 billion in loans to small and medium-sized enterprises (SMEs) since its founding. The company's board, chaired by Ken Stannard since 2024, is now tasked with ensuring a smooth succession while maintaining operational stability and growth in a competitive lending market.
Fourteen years of leadership and expansion
Lisa Jacobs joined Funding Circle in 2012 as chief strategy officer, later becoming managing director for the UK and then Europe. Her promotion to CEO in 2022 marked the first time a non-founder led the company, following the departure of co-founder Samir Desai. Under Jacobs, Funding Circle expanded its reach beyond the UK, strengthened its technology platform, and continued to focus on providing fast, flexible lending solutions for SMEs-a sector often underserved by traditional banks.
During her tenure, Jacobs oversaw the company's response to shifting economic conditions, regulatory changes, and evolving SME demand. The platform's cumulative lending volume surpassed £18 billion, supporting more than 135,000 businesses across the UK and Europe. This scale has positioned Funding Circle as a key player in the alternative finance sector, especially as SMEs seek reliable access to credit amid ongoing market uncertainty.
Board response and succession planning
Ken Stannard, who became chair in 2024 after Andrew Learoyd's departure, emphasized the board's respect for Jacobs' decision and the importance of aligning the leadership transition with the company's current momentum. The board's search for a successor is already underway, with a focus on candidates who can build on Funding Circle's established platform and drive further growth in SME lending.
Jacobs' own reflections highlight her pride in the company's achievements and her gratitude for the team's dedication. She cited the collective effort behind Funding Circle's support for SMEs as a defining feature of her leadership period. The company's ability to adapt and scale during her tenure will be a key benchmark for the incoming CEO.
Operational impact and future direction
Funding Circle's business model relies on connecting investors with SMEs seeking loans, offering both fixed-term and flexible lending products. The platform's growth has coincided with increased competition from banks and fintechs, as well as regulatory scrutiny of alternative lending. Maintaining trust with both borrowers and investors will be critical as the company navigates leadership change and market evolution.
According to company data, Funding Circle's total loan volume reached £18 billion by early 2026, with the majority of lending concentrated in the UK. The platform's expansion into Europe has contributed to a broader customer base, but also introduced new regulatory and operational challenges. The next CEO will need to balance growth ambitions with risk management and compliance requirements in multiple jurisdictions.
Leadership transitions at financial technology firms often carry operational and reputational risks, especially when the outgoing executive has played a central role in shaping the company's strategy and culture. Funding Circle's board faces the challenge of selecting a leader who can sustain the company's growth trajectory while adapting to changing market conditions and regulatory expectations. The timing of Jacobs' departure-coinciding with a period of strong business performance-suggests a deliberate effort to ensure stability and continuity during the handover.
Funding Circle's evolution reflects broader trends in SME finance, where digital platforms have sought to fill gaps left by traditional banks. The company's ability to maintain its position will depend on its capacity to innovate, manage risk, and respond to the needs of both borrowers and investors as the lending landscape continues to shift.
Business lending platforms such as Funding Circle operate within a complex regulatory environment that varies by country. In the UK, peer-to-peer lending is regulated by the Financial Conduct Authority (FCA), which sets standards for transparency, risk disclosure, and investor protection. As Funding Circle expands its European footprint, it must comply with additional national and EU-level regulations, including those governing cross-border lending and data protection. Effective compliance is essential not only for legal reasons but also for maintaining trust among users and partners. Leadership transitions can test a company's ability to uphold these standards, making robust governance and clear succession planning critical for long-term success.
