Loading organizations...
§ Venture Capital · Africa
Fintech company providing digital lending, credit scoring, and banking solutions for SMEs in the Philippines, focused on working capital.
First Circle is a financial technology company based in Manila, Philippines, that provides digital lending, credit scoring, and banking solutions to small and medium-sized enterprises. The platform utilizes proprietary technology to underwrite working capital loans for business-to-business companies operating across diverse sectors, including services, trading, technology, and healthcare equipment. Since 2019, the organization has disbursed over $200 million in business loans and provided funding to more than 3,000 unique customers, with two-thirds accessing credit for the first time. First Circle has secured external capital to support its lending operations, including a $26 million Series A round and a recent $7 million investment backed by institutional investors such as the International Finance Corporation, Endeavor Catalyst, Fasanara Capital, and Venturra Capital. The financial technology company was founded in 2016 by Patrick Lynch and Tony Ennis.
First Circle has raised $36.9M across 4 funding rounds.
Key people at First Circle.
First Circle was founded in 2016 by Patrick Lynch (Co-Founder & CEO).
First Circle has raised $36.9M in total across 4 funding rounds.
First Circle was founded in 2016 by Patrick Lynch (Co-Founder & CEO).
First Circle has raised $36.9M in total across 4 funding rounds.
First Circle's investors include Venturra Capital, 500 Startups.
First Circle has raised $36.9M across 4 funding rounds. Most recently, it raised $8.6M Series B in August 2024.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Aug 2, 2024 | $8.6M Series B | — | — | Announced |
| Oct 2, 2018 | $26M Venture Round | Venturra Capital | — | Announced |
| Apr 11, 2017 | $1.3M Venture Round | — | — | Announced |
| Oct 1, 2016 | $1M Seed | — | 500 Startups | Announced |
Key people at First Circle.
First Circle is a Philippine-based technology company specializing in digital financial services tailored for small and medium enterprises (SMEs). It provides online business banking solutions and data-driven lending products designed to bridge the significant credit gap faced by SMEs, particularly those underserved by traditional banks. Its offerings include flexible business credit lines, fee-free business banking, and payment solutions that enable SMEs to access working capital quickly and conveniently. First Circle serves a diverse range of sectors such as services, trading, technology, healthcare equipment, transportation, and food, helping SMEs grow by providing competitive rates, higher credit limits, and flexible repayment options. The company has demonstrated strong growth momentum, having disbursed over USD 200 million to more than 3,000 SMEs since 2019, with customers experiencing an average revenue growth of 80% within two years[1][2][3][6].
Founded in 2016, First Circle was established by a team with backgrounds in top-tier financial institutions and technology companies, including Morgan Stanley, Goldman Sachs, McKinsey, and Amazon. The idea emerged from recognizing the large financing gap and barriers faced by Filipino SMEs, many of which are underbanked due to information asymmetry and high funding costs. Early traction came from leveraging technology and data analytics to create a fast, digital lending platform that could assess risk more accurately and provide tailored financing solutions. This approach quickly earned trust from SMEs nationwide and attracted investments from prominent institutions such as the International Finance Corporation (IFC), Triodos Investment Management, and others, enabling First Circle to scale its impact and expand its product offerings[1][2][3][5].
First Circle rides the global fintech trend of digital financial inclusion, specifically targeting the underserved SME segment in emerging markets. The timing is critical as SMEs in the Philippines and Southeast Asia face persistent credit access challenges, exacerbated by information asymmetry and high borrowing costs. Market forces such as increasing digitization, government support for SME growth, and investor interest in fintech innovation favor First Circle’s expansion. By proving the commercial viability of technology-driven SME lending, First Circle influences the broader ecosystem by encouraging traditional banks and fintech competitors to enter and innovate in this space, ultimately driving systemic change in financial services for SMEs in the region[1][3].
Looking ahead, First Circle is poised to deepen its footprint in the Philippines and expand across Southeast Asia, leveraging its technology platform and strong investor backing. Trends shaping its journey include increasing digital adoption by SMEs, growing demand for flexible financing solutions, and regulatory support for fintech innovation. The company’s influence is likely to grow as it continues to demonstrate scalable impact, potentially becoming a benchmark for SME digital lending in emerging markets. Its partnership-driven approach and technology edge position it well to capitalize on the evolving financial ecosystem, empowering more SMEs to thrive and contribute to economic growth[1][2][3].
