Creditspring, the subscription-based credit provider on a mission to improve financial stability across the UK, has secured FCA permission to operate as a credit broker, enabling the company to support more customers by introducing eligible members to carefully selected third-party credit products where these better meet their needs.
The permission means that when a Creditspring product isn’t the most suitable option, eligible members can instead be referred to carefully selected alternative lenders, helping more people access appropriate borrowing while maintaining a strong focus on affordability and customer outcomes.
The expansion builds on Creditspring’s long-standing mission to make borrowing fairer, safer and easier to understand. Since launching in 2016, the company has challenged traditional short-term lending through its subscription model, helping more than one million people access transparent, fixed-cost credit without the risk of spiralling interest.
Creditspring believes responsible lending means helping customers access the product that’s right for them, not just the products it offers itself. By broadening its proposition, the business will be able to support more consumers in accessing appropriate borrowing while continuing to prioritise affordability, transparency and good customer outcomes.
Neil Kadagathur, CEO and Founder of Creditspring, said: “This is an important milestone for Creditspring. We’ve always believed responsible lending isn’t just about offering credit – it’s about helping people access the right credit for their individual circumstances.
“Until now, if one of our products wasn’t the right fit, our ability to help was limited. With this new permission, we can continue supporting eligible members by introducing them to carefully selected alternative providers where appropriate.
“Ultimately, this is about giving more people access to the right financial support at the right time. We want to help members throughout their financial journey, even when that means directing them to a solution beyond Creditspring.”
The move also aligns with the FCA’s continued focus on delivering good consumer outcomes by helping people access products that are appropriate for their needs and circumstances.
Creditspring believes giving consumers access to suitable, transparent borrowing options is an important part of improving financial resilience and reducing reliance on higher-cost forms of credit.
The new permission forms part of Creditspring’s wider strategy to broaden its financial wellbeing proposition and continue investing in tools and services that help consumers make better financial decisions throughout their borrowing journey.
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