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Funding Circle Picks Goldman Sachs, Morgan Stanley for IPO

  • U.K. online lender’s share sale may spur IPOs from rivals
  • Bank of America and Morgan Stanley also working on share sale
Employees work at the Funding Circle Ltd. office headquarters, in London.

Employees work at the Funding Circle Ltd. office headquarters, in London.

Photographer: Simon Dawson/Bloomberg
Updated on

Funding Circle Ltd., the biggest online loan provider in Britain, named Bank of America Merrill Lynch, Goldman Sachs Group Inc., Morgan Stanley and Numis Corp. Plc to help manage its initial public offering, according to a person familiar with the deal, in a milestone for U.K. fintech.

The offering in London, planned for the second or third quarter, will probably value the eight-year-old company at between 1.5 billion pounds ($2.1 billion) and 2 billion pounds, according to the person, who asked not to be identified as the information is private. That would make it the biggest IPO by a British financial-technology startup.