By: 9 July 2024

They hope to lead the way for other credit companies, joining the movement for more positive and less toxic lending practices

Fairlo leads the way with B Corp certification

Fairlo, the consumer credit fintech, has announced that it has received B Corp certification, joining a global movement of businesses dedicated to fostering an inclusive, transparent, and sustainable economy. 

Commenting on the achievement, Jimmy Hanna, chief executive officer and founder of Fairlo, said: “The entire process has taken almost a year and it is with no small amount of pride we announce our certification as it proves not only our commitment to our original vision of challenging the predatory credit industry, it also proves our commitment to staying focused on tangible and measurable improvement across all areas we impact moving forward.”

You can view Fairlo’s full assessment in detail on the B Corp website: https://www.bcorporation.net/en-us/find-a-b-corp/company/fairlo/

The B Corp certification marks a new milestone in Fairlo’s quest for introducing accountability and transparency to credit services, following features like the world’s first Fairness Receipt, a detailed breakdown of the deal. Where does the money go and what do we stand to profit? In short, what finance geeks call “unit economics”.

Fairlo was one of only two Swedish companies on top 10 of Financial Times and Statista’s 2024 ranking of Europe’s fastest-growing companies. It received its UK FCA licence last year and is now showing sustainable and profitable growth, momentum that is now being used for gaining leverage on the Swedish and British markets.

Matthew Cochrane, chief operating officer of Fairlo, said: “Our proven track record in Sweden, our 4.7 Trustpilot score, our FCA licence in the UK and now the B Corp certification are all amazing proof points of why Fairlo is needed and makes sense for the UK market”.

Image: Fairlo

Robert Welbourn
Robert Welbourn is an experienced financial writer. He has worked for a number of high street banks and trading platforms. He's also a published author and freelance writer and editor.