Heartland, Anders Holck Povlen's invest company, have pledged to acquire a 10 % stake when Funding Circle aims to raise £300m in a stock market float valuing the company at up to £1.95bn. Funding Circle initially grew as a so-called peer-to-peer lender that matched retail investors and small companies on its website. It now has 1.9% of the small- and medium-sized enterprise lending market in the UK. Funding Circle reported GBP 94.5m in net sales but operating profits of approx. GBP 35m last fiscal year.