Funding Circle Names Steve Allocca as U.S. Managing Director to Drive Growth
Funding Circle, a leading small business financing platform, has appointed Steve Allocca as its U.S. managing director. The company has originated $4.1 billion in loans to 40,000 small businesses nationwide since 2010 and recently expanded its loan proposition to serve super-prime businesses.
Allocca brings extensive experience to Funding Circle, having previously served as COO at BlueVine and held senior leadership roles at LendingClub and PayPal. He will report to CEO Lisa Jacobs and lead the company's growth and expansion in the U.S.
Before joining Funding Circle, Allocca was among 460 employees let go when LendingClub cut 30% of its workforce in 2020. His specific background details during this period are not directly stated.
Funding Circle has been active in strategic partnerships, launching two lending-as-a-service (LaaS) deals with Pitney Bowes and DreamSpring. The company aims to continue this momentum under Allocca's leadership.
With Allocca at the helm, Funding Circle's U.S. operations are poised for growth. The company's commitment to small businesses, as demonstrated by its $4.1 billion in loans, is set to continue. Allocca's appointment follows the recent addition of Greig McEwan as chief technology officer, further strengthening the leadership team.
