Samir Desai's departure from Funding Circle's board marks the end of the involvement of all original co-founders, indicating a pivotal change for the company.
Once a beacon in Britain's fintech sector, Funding Circle's struggles since its IPO, including a drop in share price and profitability issues, signify an evolving challenge.
Desai's exit, alongside his co-founders, comes as Funding Circle faces heavy regulatory pressures and the aftermath of the pandemic, which led to significant operational adjustments.
Current CEO Lisa Jacobs aims for profitability after implementing job cuts and divesting from the US market, as Funding Circle seeks new leadership with its chairman's upcoming departure.
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