Funding Circle U.S. Appoints Kos Joshi to Lead Embedded Finance & Partnerships

Rhea-AI Summary

Funding Circle announces the appointment of Kaustubh Joshi as Head of Embedded Finance & Partnerships for the U.S. business. Joshi will be responsible for attracting more small businesses through the company's embedded platform and strategic partnerships. Funding Circle has been granted a license by the U.S. Small Business Administration to originate SBA 7(a) loans up to $5 million nationwide.

Former Goldman Sachs executive sees big opportunity to serve more small businesses

DENVER--(BUSINESS WIRE)-- Funding Circle (LSE:FCH), the leading online lending platform for small businesses is pleased to announce that Kaustubh “Kos” Joshi has joined the company as the Head of Embedded Finance & Partnerships for the U.S. business where he will be responsible for executing on the company’s strategy to attract more small businesses through its embedded platform and strategic partnerships.

Kaustubh “Kos” Joshi has been appointed to Head of Embedded Finance & Partnerships at Funding Circle U.S. (Photo: Business Wire)

Kos was most recently the Head of Product for Embedded Business Financing at Goldman Sachs where he successfully launched and grew their embedded SMB financing business, including their partnership with Amazon.

"I am thrilled to lead Funding Circle’s strategy to attract more small businesses through our flexible embedded platform which leverages world class technology and superior customer experience to offer small businesses multiple financing products including SBA 7(a) loans that meet their needs wherever they are,” Kos said.

Steve Allocca, U.S. Manager Director at Funding Circle said: “We are excited that Kos chose to join Funding Circle and that he appreciates the massive opportunity for us to serve more small businesses the financing products they need by leveraging our embedded platform technology through strategic partnerships.”

The announcement follows a decision by the U.S. Small Business Administration to grant Funding Circle a license – the first and only Fintech company to date – to originate SBA 7(a) loans up to $5 million nationwide. Partners such as banks, lenders and other service providers to small businesses will be able to offer their customers Funding Circle term loans and SBA 7(a) loans up to $500,000 through Funding Circle’s flexible embedded platform.

About Funding Circle
Funding Circle (LSE: FCH) is the leading online lending platform for small businesses. Since 2010, Funding Circle has originated $4.5 billion to 45,000 small businesses in the U.S. and $21.1 billion to 143,300 small businesses globally.

Recently launched partnerships include Pitney Bowes (NYSE:PBI), DreamSpring, Affinity Plus Credit Union, Farm Bureau Bank, and Nationwide.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231106885931/en/

For all media inquiries:

Ryan Metcalf

pr@fundingcircle.com

Source: Funding Circle

FAQ

Who has joined Funding Circle as Head of Embedded Finance & Partnerships for the U.S. business?

Kaustubh Joshi

What will be Joshi's responsibility in his new role?

Attracting more small businesses through the company's embedded platform and strategic partnerships.

What license has Funding Circle been granted by the U.S. Small Business Administration?

Funding Circle has been granted a license to originate SBA 7(a) loans up to $5 million nationwide.

What types of loans will Funding Circle be able to offer through its embedded platform?

Funding Circle will be able to offer term loans and SBA 7(a) loans up to $500,000.