Highlights

• Funding Circle raised FY26 Revenue guidance to at least £275m, up from more than £255m previously.

• The SME lender now expects a profit Margin of around 16%, implying profit before tax of roughly £44m.

• Management pointed to continued second-half momentum and resilient Demand from small and medium-sized businesses across the UK.

• Share Buybacks since 2024 have now reached £80m in total, representing about 19% of issued share capital.

Across Britain, café owners, builders and wholesalers still need cash to buy stock, fix equipment and bridge late payments, and Funding Circle sits right in that flow of everyday borrowing. On Tuesday, 10 November 2026, Funding Circle Holdings plc (LSE:FCH) used a trading update to say that demand has held up well enough to justify another lift to its full-year targets. The fresh targets build on an upgrade already delivered with half-year results in September, when the small Business lending platform reported a sharp jump in profit.

What the trading update said

Funding Circle now expects FY26 revenue of at least £275m, compared with previous guidance of more than £255m. It also guides to a profit margin of around 16%, which it said implies profit before tax of roughly £44m. The previous profit guidance was more than £40m.

The new revenue floor sits about £20m, or roughly 8%, above the earlier figure.

The company attributed the upgrade to continued momentum in the second half and resilient demand from SMEs. It also described a solid Balance Sheet and healthy cash generation.

Capital returns keep running

Funding Circle (LSE:FCH) has repurchased £5m under its fourth buyback programme so far. Total buybacks now stand at £80m, equal to 19% of issued share capital.

At its half-year results in September, the company said the third programme of up to £25m was under way, with a further programme of up to £25m to follow. Chief Executive Lisa Jacobs said total buybacks would reach £100m since March 2024 once those programmes are complete.

How the first half set the pace

In the six months to 30 June 2026, revenue rose 50% to £138.2m and profit before tax climbed to £24.1m from £6.0m. Term Loans originations increased 43% to £1,050m, while FlexiPay and Credit card transactions grew 71% to £640m.

Unrestricted cash stood at £136.5m at the half-year end. The business also cited £2.4bn of committed forward flows from institutional investors to fund its loans.

Leadership change and other checkpoints

Lisa Jacobs announced on 8 September that she intends to step down no later than September 2027. On 4 November, the board named Rob Straathof, currently chief executive of Grover and previously chief executive of Liberis for a decade, as her successor, subject to regulatory approval. He is expected to join in the first half of 2027.

Small business credit conditions, the handover at the top and delivery of the full-year figures are the areas investors will track.

Next milestones on the calendar

Full-year results will show whether Funding Circle (LSE:FCH) has met the raised targets. Its medium-term ambition, set out in September, is FY29 revenue of about £300m to £350m with pre-tax margins in the low to mid-20s %, giving investors in UK shares a longer-range yardstick.