Lendable is a UK‑based digital lending platform that offers unsecured personal loans from £1,000 to £25,000 with repayment terms of 12 to 60 months. Borrowers receive a soft‑pull credit assessment, a fixed APR (8.1%–48.9%) and a single loan fee disclosed up‑front, and approved funds are transferred within two hours, with repayments collected via Direct Debit.
Funding
$275.2M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
OTFounders
Product
Problem
Consumers needing unsecured personal loans often face lengthy applications, paper‑based processes, hidden fees, and credit checks that can damage their credit score, making it difficult to obtain fast, transparent financing.
Solution
Lendable provides a fully digital lending platform that delivers unsecured personal loans of £1,000 to £25,000 over 1‑5 years. Prospective borrowers receive a pre‑approval rate via a soft credit search that does not affect their credit file. Approved loans are funded instantly, with funds typically transferred to the borrower’s bank within two hours. All terms, including a fixed APR (8.1 %–48.9 %) and a single loan‑fee, are disclosed up‑front, eliminating hidden costs. Repayments are collected automatically by Direct Debit, with the option to make extra payments at any time without penalties. The service is FCA‑regulated, uses end‑to‑end encryption, and offers 7‑day customer support through phone, email, and live chat.
Target Audience
UK residents seeking fast, unsecured personal loans for purposes such as debt consolidation, home improvement, or cash flow support, who value a fully digital, transparent borrowing experience.
Features
- Paperless online application workflow that captures personal, income, and expense data in minutes
- Soft credit check via TransUnion that provides a personalized rate without a hard inquiry
- Fixed‑rate loans with transparent APR (8.1 %–48.9 %) inclusive of a one‑off loan fee added to the principal
- Loan amounts ranging from £1,000 to £25,000 with repayment terms of 12 to 60 months
- Instant fund disbursement (typically within 2 hours) after approval
- Automatic Direct Debit repayments plus unrestricted extra‑payment capability, no early‑repayment penalties
- Secure data handling with industry‑standard encryption and compliance with FCA and CIFAS regulations
- 7‑day a‑week support via phone, email, live chat, and online help centre