Flexipay
“Can Funding Circle expand beyond term loans into a daily-use working-capital and pay-later tool for UK SMEs?”
Founded2010
HQLondon, UK
IndustryFintech / SMB Lending
The story
Funding Circle launched in 2010 as a term-loan marketplace for UK SMEs. FlexiPay was launched as a short-term cash-flow product — a flat-fee, 1-12 month installment line of credit usable via card, bank transfer, or direct withdrawal. The product represents Funding Circle's expansion from long-dated term lending into embedded working-capital and pay-later use cases, powered operationally by Modulr's payments API.
Last 12 months
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Product timeline
2010
Funding Circle launched as SME term loan marketplace in the UK· lending
2021
Launched FlexiPay short-term cash flow / pay-later product for SMEs· lending
2024
FlexiPay processes over 140,000 transactions, achieving >3x revenue growth via Modulr payments infrastructure· lending
The stack
3 layers disclosed in Flexipay’s embedded-finance stack
Payments / PSP
FlexiPay (self-operated Visa card + bank transfer product)
Banking / BaaS
in the full report
Card issuing
in the full report
Accounting gap: minor
2 more providers across 2 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.