Funding Circle CEO Lisa Jacobs to Step Down by September 2027 as Board Begins Succession Search

September 10, 2026 • FinTech News

Funding Circle CEO Lisa Jacobs will step down from the UK SME lending platform by no later than September 2027, bringing the curtain down on a 14-year tenure that has taken her from chief strategy officer to the company’s top leadership role.

Funding Circle confirmed the succession plan on September 8, saying Jacobs has informed the board of her intention to leave. The board, chaired by Ken Stannard, has begun a formal search for her successor. Jacobs will remain CEO during the transition and continue delivering the company’s growth and strategic plans.

The announcement comes at an important point for Funding Circle. The company reported a strong first half of 2026, with revenue up 50% year on year to a record level, profit before tax increasing fourfold to £24 million, and upgraded full-year guidance to more than £255 million in revenue and more than £40 million in PBT.

Lisa Jacobs to Leave Funding Circle After 14 Years

Jacobs joined Funding Circle in 2012 as chief strategy officer.

She later became UK managing director before taking responsibility for Europe and ultimately becoming CEO in January 2022, succeeding co-founder Samir Desai.

Her tenure has therefore covered much of Funding Circle’s transformation from an early-stage fintech into a publicly listed SME finance platform.

The company says it has now extended more than £18 billion in credit to over 135,000 UK small and medium-sized businesses since launching.

Funding Circle’s board described Jacobs’ contribution as transformative, pointing to the company’s stronger platform, team, and growth prospects.

Jacobs herself said the business is now in the strongest position it has reached and that the timing was right to begin handing over leadership.

Importantly, this is not an immediate departure.

Jacobs is expected to remain in the role until no later than September 2027, giving Funding Circle considerable time to identify and transition to a successor.

Funding Circle Begins CEO Succession Process

The board has now started a formal search for the next CEO.

Chair Ken Stannard said the board wants to find a candidate who can build on Funding Circle’s existing platform for growth.

That timing gives the company an opportunity to conduct a comprehensive search rather than making a rushed appointment.

It also means the incoming CEO could potentially work with Jacobs during the transition, helping preserve institutional knowledge and strategic continuity.

For a fintech operating in SME lending, that continuity matters.

Funding Circle has built a multi-product model that now goes beyond traditional term lending. Its offering includes FlexiPay and Card products, alongside its core lending business.

The next CEO will therefore inherit a business in the middle of a broader product and profitability strategy rather than simply taking over a single lending platform.

A Leadership Change During Strong Financial Momentum

The CEO transition is particularly notable because Funding Circle’s latest results show strong momentum.

For the first six months of 2026, the company reported:

50% year-on-year revenue growth
£24 million profit before tax
£1.7 billion of credit extended
18,000 SMEs backed during H1
A customer transaction approximately every 20 seconds
FY2026 revenue guidance raised to more than £255 million
FY2026 PBT guidance raised to more than £40 million

Funding Circle also said its Term Loans business remains highly cash-generative and capital-light, allowing it to invest in scaling newer products.

The company is targeting approximately £300 million to £350 million of revenue by FY2029, with PBT margins in the low-to-mid 20% range, assuming a stable macroeconomic environment.

That creates an interesting backdrop for the succession.

Jacobs is leaving not because Funding Circle has announced a strategic retrenchment, but while the company is presenting itself as a business with strong growth momentum.

Jacobs’ Journey From Strategy Chief to CEO

Jacobs’ relationship with Funding Circle began well before her appointment as CEO.

She joined the company in 2012 as chief strategy officer, working on areas including capital raising and international expansion. She subsequently became UK managing director.

As UK managing director, she led the business through the pandemic period, including Funding Circle’s participation in the UK government’s Coronavirus Business Interruption Loan Scheme (CBILS). Funding Circle’s leadership biography also credits her with helping lead international expansion and acquisitions during her strategy tenure.

In 2022, she succeeded founder Samir Desai as CEO.

Desai had led Funding Circle from its founding before stepping away from the CEO role at the end of 2021.

Jacobs has therefore been part of almost every major phase of Funding Circle’s development.

Her eventual departure represents more than a conventional CEO change. It marks the beginning of a new leadership chapter for a fintech she has helped shape for more than a decade.

Funding Circle’s Next CEO Faces a Different Business

The next CEO will inherit a company that looks materially different from the Funding Circle Jacobs joined in 2012.

The platform originally focused heavily on connecting SMEs with funding through its lending marketplace.

Today, Funding Circle describes itself as a broader SME finance platform, combining proprietary AI-powered credit models with products that allow small businesses to borrow, pay and spend through its ecosystem.

The company is also pursuing a more capital-light model and expanding products such as FlexiPay and Card.

That creates several priorities for the next leadership team.

The new CEO will need to maintain growth while protecting profitability, scale newer products, manage credit risk and continue improving the customer experience.

At the same time, Funding Circle will need to navigate the wider economic environment facing SMEs and lenders.

SME Lending Remains the Core Mission

Despite the product expansion, the underlying mission remains unchanged.

Funding Circle was created around the idea that technology could make it easier for small businesses to access finance.

That remains central to its business.

The company says it has supported more than 135,000 SMEs and extended more than £18 billion in credit since launch.

The scale of that lending gives the next CEO a substantial platform to build on.

But it also raises the bar.

Funding Circle’s future growth will depend not simply on originating more loans, but on expanding its relationship with SMEs through additional financial products while maintaining disciplined underwriting and attractive economics.

The Strategic Question for Funding Circle

The key question now is not simply who replaces Lisa Jacobs?

It is what kind of Funding Circle does the next CEO want to build?

The company has already demonstrated that its technology and credit infrastructure can support a large SME customer base.

Its current strategy is increasingly focused on becoming a broader financial partner for small businesses.

That could mean further expansion of payments, cards and flexible financing products.

It could also mean deeper use of AI and proprietary data in credit decisioning and customer engagement.

The next CEO will have to decide how aggressively to pursue those opportunities while preserving the profitability momentum established under Jacobs.

An Orderly Transition

One of the most important aspects of the announcement is the amount of time Funding Circle has created for the transition.

Jacobs is not stepping down immediately. She will remain CEO until a date no later than September 2027 and has committed to working with the board to ensure an orderly handover.

That gives the board the opportunity to conduct a broad search while allowing Jacobs to continue executing the company’s existing strategy.

It also reduces the risk of a leadership vacuum at a time when Funding Circle is reporting strong financial performance.

For investors and customers, that continuity may be as important as the eventual appointment itself.

What Comes Next

Funding Circle’s board will now focus on identifying Jacobs’ successor.

Until then, Jacobs remains firmly in charge.

The company has also signalled that its strategic priorities will continue: profitable customer-led growth, stronger credit decisioning, broader distribution and scaling its product portfolio.

The leadership transition therefore comes with a clear challenge.

Funding Circle has built momentum. The next CEO will need to turn that momentum into the next phase of sustainable growth.

Conclusion

Lisa Jacobs’ planned departure marks the end of a significant chapter in Funding Circle’s history.

After joining the fintech in 2012 and becoming CEO in 2022, Jacobs has helped lead the company through its evolution into a broader SME finance platform.

Her departure is planned for no later than September 2027, giving the board substantial time to find a successor and allowing for an orderly transition.

With Funding Circle reporting record revenue performance, stronger profitability and ambitious medium-term targets, the next CEO will inherit a business with considerable momentum.

The real test will be whether that momentum can continue after one of the company’s longest-serving leaders hands over the reins.

Lisa Jacobs to step down as CEO of Funding Circle

📲 Want to stay updated on the latest fintech news, trends, and industry developments?

Follow our Telegram channel The FinTech Experts for regular fintech updates and insights.

👉 Follow us on Telegram: t.me/TheFinTechExperts

Stay informed. Stay ahead. 🚀