UK-based consumer lending fintech Lendable has reported a 120% rise in profits to GBP 11 million in 2025, alongside a 90% increase in revenues to GBP 446 million, as the company accelerates plans to expand into the US and Mexico.
The Goldman Sachs-backed firm, which uses machine learning to automate credit assessments, issued more new consumer credit loans by volume compared to other lenders in the UK last year, and recorded the second-highest number of new credit cards issued, according to data from Experian. This positions Lendable ahead of institutions with significantly larger balance sheets.
Technology-driven model and institutional funding structure
Founded in 2014, Lendable does not take deposits. Instead, it originates and services loans on behalf of institutional investors without holding them on its own balance sheet. Investors receive interest payments, while Lendable charges a platform fee. The model allows the company to scale loan origination without the capital constraints typically associated with deposit-taking institutions.
The company's backers include early Revolut investor Balderton Capital, Goldman Sachs, and venture capital firm Passion Capital. Its most recent funding round, completed in 2022 and led by the Ontario Teachers' Pension Plan, raised GBP 210 million and valued the business at GBP 3.5 billion. Lendable has not raised additional capital since and declined to comment on its current valuation.
Co-founder Martin Kissinger said the company's machine-learning technology draws on a broad pool of data, enabling it to assess credit risk in ways that differ from traditional lenders. The company serves prime and near-prime borrowers, a segment frequently been declined by mainstream banks. Kissinger noted that individuals with limited credit history, such as those who have moved frequently or lack a record of utility payments, often fall into this category. The company offers interest rates of between 5.8% and 48.9% for loans of up to GBP 35,000 over terms of up to eight years. Retail partners, including the Post Office and Asda, distribute Lendable's products.
US and Mexico expansion
Lendable intends to direct its profits into expanding its US operation, which was first established in 2021, and into a planned launch in Mexico. Kissinger argued that personal loans and credit cards are more transferable across markets than neobank propositions, which he suggested do not translate as readily from the UK to the US context.
The move comes as several other UK fintechs pursue US growth. Revolut applied for a US national bank charter in March 2026 to support its own expansion. Lendable's asset-light origination model and focus on consumer credit products represent a structurally different approach to that market entry.
