SteadyPay offers a subscription‑based short‑term credit product, CashWave, that lets UK users borrow up to £500 and repay in three fixed £30 monthly instalments with no interest. A separate TopUp service provides regular income boosts for people with variable pay, and all repayments are reported to credit bureaus to help improve users' credit scores.
Funding
$3M 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.
1ONIFounders
Product
Problem
Many consumers in the UK with poor credit histories or irregular incomes struggle to obtain affordable short‑term credit. Traditional lenders often charge high interest rates and fees, making it difficult to cover unexpected expenses without worsening financial stress.
Solution
SteadyPay provides a subscription‑based short‑term credit product called CashWave that allows users to borrow up to £500 and repay in fixed monthly instalments. The service charges a flat £30 per month subscription rather than interest, so the total cost is transparent and predictable. A separate TopUp offering lets users receive regular income top‑ups to smooth cash‑flow gaps. Each repayment is reported to credit bureaus, enabling users to build or improve their credit score over time. The entire process is delivered through a mobile app, with instant eligibility checks, automated disbursement, and in‑app support from human agents.
Target Audience
SteadyPay targets UK consumers who have limited access to traditional credit, including those with bad credit scores or variable income streams, as well as individuals seeking a transparent, short‑term financing option.
Features
- CashWave loan up to £500 with a fixed £30/month subscription, no interest charged
- Repayment schedule of three monthly instalments, fully disclosed APR for regulatory compliance
- TopUp product that delivers recurring income boosts to users with fluctuating pay
- Mobile‑first onboarding and instant fund disbursement within the SteadyPay app
- Credit‑building mechanism that reports on‑time repayments to major UK credit bureaus
- Human‑focused customer support via in‑app chat, achieving >91% satisfaction scores