Abound

Abound is a UK lending company, trading as Fintern Ltd, that offers online personal loans and a platform for partners to run their own lending products, covering underwriting through collections. It uses Open Banking data and AI models to assess applicants.

Its consumer customers are individuals aged 18 or over with the right to live in the UK, a main UK bank account and no unresolved defaults or CCJs, who apply online for loans of up to £20,000. Its business customers are lenders that use the platform; the website states that more than 15 partners have been powered so far. Revenue comes from the loans it originates, which carry interest and fees.

The company was launched in March 2021 and is registered in England and Wales. It is authorised and regulated by the Financial Conduct Authority and lists its office at Paul Street in London. The website reports over £1.5b in total originations and £2.2bn in lending capacity backed by loan book financing from Citi, Deutsche Bank and Waterfall. Its open roles are in London, Milton Keynes, Shenzhen and Madrid, mainly in technology, underwriting, collections, customer operations, legal and compliance.

Product: Online personal loans for UK consumers and a lending platform (underwriting to collections) that partner lenders use to launch their own loan products.