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Last week, we published our Full Year 2024 results. We delivered a solid financial performance, stronger than expectations, and delivered on the plan we set out last year, to be a simpler, leaner and profitable business. Our results were ahead of expectations with annual revenue growth of over 23% to £160m. We were profitable, and our credit extended grew by 47% to £1.9bn in the year. Our term loans business is profitable and, powered by our proprietary tech and data, provides 77% of UK applicants with an instant decision. We extended our track record of delivering robust and attractive loan returns to our investors, and we're continuing to see strong traction and growth in FlexiPay. We continued to listen to customer feedback and launched our new Cashback business credit card, enabling more businesses to borrow, pay later and spend with Funding Circle. Our numbers are impressive. To date, we have now extended £14.6bn in credit to over 110,000 small businesses. Our customers are the nation's small and medium -sized businesses, who are the backbone of the economy. We're excited about the future of the UK business and we believe we are well positioned to grow in a large, underserves market and help more small businesses access the finance they need to win.
Last week we celebrated Lunar New Year in our London office with bubble tea, traditional food and couplet writing. 🧋🍜🧧 The event was planned and run by our Circler (employee) group Let's Talk About Heritage. This group bridges gaps, celebrates traditions, and fosters understanding across the Funding Circle business both in the UK and in the US. From Diwali to Lunar New Year and everything in between we take the time to embrace diversity with open arms. Our Circler communities span beyond this one group than with regular meet-ups, information sharing and panel talks open to all. So whether you're a parent (Parents @ FC), you identify as someone within the LGBTQIA+ community (Circle Of Pride), you're passionate about positive social and environmental change (FC Impact) or you're looking for a progressive forum in the workplace regarding gender (Women at FC) and neurodiversity (ND @ FC) there is an opportunity for all. Check out our careers page or hit apply now, we'd love to hear which Circler group you would be joining!
January is a great time to reflect on your progress and to set performance and development goals for what you wish to achieve in 2024. At Funding Circle we run sessions throughout the month of January in regards to goal setting for managers in building high performing teams and for individuals to strive towards being a high performer. Alongside that our in-house learning platform provides a one stop shop for development needs. Circlers are able to attend virtual instructor led training and Funding Circle Academies. There are over 5000 resources to choose from and 122 courses to complete! Funding Circle also provide a £300 Money To Do More (M2DM) budget to employees to invest in themselves; money they can spend on books, courses, network events and everything in between to help them reach that next objective or smash the goals they have set.
