Founders: Giles Harridge and Ged O’Neill
Business: Founded in 2016, Auden is reshaping the way that people in the UK borrow money and it’s starting with an affordable loan, repayable for up to 12 months. This first products offers huge amounts of flexibility for customers and is up to 40% cheaper than other short term lenders. Auden is an ethical take on traditional payday loans and lets customers borrow between £200 and £1,000. Loans can be extended up to 12 months and Auden even offers customer up to 2 repayment holidays.
This for-profit social enterprise is using advanced technology to undercut more well established high-cost, short-term loan providers.
Auden is all about giving people the freedom of choice. The company is setting out to develop new products and services which will deliver better outcomes for our customers. The company believes that people in the United Kingdom are under served and overcharged by the consumer finance industry. Auden prides itself on creating an entirely new approach to help drive change and give everybody access to the right products and services. Auden is the first company in the UK to have fully incorporated the Governance Agreement published by Big Society Capital into our Articles of Association.