74. Creditspring – Aravind Chandrasekaran & Neil Kadagathur

Company: Creditspring

Founders: Aravind Chandrasekaran & Neil Kadagathur

Website: https://www.creditspring.co.uk/

Business: Creditspring is a new kind of responsible lender that is disrupting the credit market and making borrowing simple and safe.


About Aravind, Neil and Creditspring

Creditspring was launched in 2016 to provide people who fall into the ‘near-prime’ segment with access to responsible and affordable credit, whilst providing the tools to empower them to improve their long-term financial stability.

Our subscription model is a fixed-cost, low-risk credit solution that gives members access to two loans per year, with clear repayments, capped costs, and no hidden charges or confusing APRs. We save our members an average of £118 each by avoiding high-cost lenders. After joining, 90% of members saw improved financial stability and 82% saw an improvement in their credit score.




The subscription model means people know up front the cost of borrowing and, importantly, there are no late fees. This makes it simple for people to evaluate the real cost of borrowing and eliminates the risk of falling into a debt spiral – something that is particularly important in times of national financial instability such as what we’re currently in. It enables people to access responsible credit without the risk of financial harm – something which is not often available to ‘near prime’ borrowers.

To ensure we’re lending safely, we use in-depth credit assessments – including the use of open banking technology – to accurately measure the applicant’s creditworthiness. This results in consistently more informed and responsible lending decisions that protect borrowers.

Creditspring recently secured £48 million in a fundraising round, taking the total amount raised since launch to more than £70 million. The funding was used to grow the member base, expand the leadership team, and will ensure Creditspring continues to disrupt the market and improve financial stability by offering borrowers a more inclusive, affordable, and responsible credit option.

The financial health of our members is at the heart of everything we do. We have several free tools – The Stability Hub, weekly personalised tips, and Spring Score, that provide members with personalised support and actionable tips to encourage more informed financial decision making. We also work closely with leading debt charity, StepChange, to ensure professional financial support is easily accessible to applicants and members should they need it.


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