Novuna
Novuna is the UK financial services arm of Mitsubishi HC Capital UK, offering asset finance, invoice finance, point-of-sale retail credit, personal loans, and vehicle leasing through six divisions to over 1.4 million UK consumers, SMEs, and enterprise fleet customers.
- Company typePrivate
- Founded2022
- HeadquartersLeeds, United Kingdom
- Headcount1,001–5,000
- GTM typeB2B and B2C
- OfferingServices
What Novuna does
Novuna is a UK-diversified financial services provider operating as a wholly owned subsidiary of Mitsubishi HC Capital UK PLC, itself part of a Japanese financial group valued at over £57bn (12trn yen). The company was formerly known as Hitachi Capital UK and rebranded to Novuna in 2022 following the merger of Hitachi Capital with Mitsubishi HC Capital Group. Through six core divisions — Business Finance, Business Cash Flow, Consumer Finance, Personal Finance, Vehicle Solutions, and European Vendor Finance — it serves over 1.4 million direct customers across the UK, with additional vendor financing reach across 25 European markets. Its product set spans asset finance, invoice factoring and discounting, point-of-sale retail finance (including Buy Now Pay Later and interest-free credit), personal loans, business loans, vehicle leasing, fleet management, EV charging infrastructure, and salary sacrifice EV schemes.
The operating platform combines point-of-sale financing integrations at major UK retailers (Wickes, Homebase, Magnet, Tredz, Skarper, PCSpecialist) with a Shopify app for e-commerce checkout financing, broker and finance-introducer networks for B2B lending, direct enterprise sales for fleet and infrastructure customers (Royal Mail, Colas, Network Rail, London Energy), and digital self-service channels for personal loans. Technology components include a proprietary credit decisioning system, fraud detection systems applied to transaction and communication data, automated invoice processing for SME cash flow products, and Mercury Hub for B2B account management. The business is FCA-authorised (register no. 704348) and holds CICMQ Accreditation with Distinction.
Revenue is generated through a mix of interest on financed assets and loans (asset finance, personal loans, business loans), transaction and merchant fees on POS retail finance and BNPL, factoring and discounting fees on invoice finance, lease payments and fleet management fees from vehicle solutions, and vendor financing margins across European markets. The company is headquartered in Staines-upon-Thames with additional offices in Leeds, Trowbridge, Newbury, and Telford, and headcount in the 1,001-5,000 range. Notable financial signals include £58.6m Consumer Finance profit, £838m of green-asset funding (9.9% of net-earning assets), and a sustained 4.9/5 customer satisfaction score across five years.
Novuna firmographics
Firmographics- Name
- Novuna
- Legal name
- Mitsubishi HC Capital UK PLC
- Website
- https://novuna.co.uk
- Company type
- Private
- Founded year
- 2022
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- Novuna is the UK financial services arm of Mitsubishi HC Capital UK, offering asset finance, invoice finance, point-of-sale retail credit, personal loans, and vehicle leasing through six divisions to over 1.4 million UK consumers, SMEs, and enterprise fleet customers.
- Ownership category
- akta.pro rank
Novuna industry classification
Industry- Product category
- Diversified Financial Services
- NAICS
- Finance and Insurance (52), Sales Financing (52222)
- SIC
- Personal Credit Institutions (6141), Short-Term Business Credit Institutions (6153), Finance Lessors (6172)
- akta.pro primary industry
- Direct Lending — Specialty Finance (Consumer/SME Lending Platforms) (FSAHAJAF)
- akta.pro secondary industry
- SME Trade Finance & Working Capital (LCs, Guarantees, Receivables) (FSABABAF)
Keywords
Where Novuna is headquartered
LocationHeadquarters
- HQ city
- Leeds
- HQ country
- United Kingdom
- HQ region
- Europe
Offices5 records
Markets served
Novuna business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Asset Finance: Flexible financing solutions for businesses to acquire assets including equipment, vehicles, technology, construction equipment, manufacturing machinery, and renewable energy systems. Revenue generated through interest and fees on financed assets.
- Invoice Finance / Factoring: Cash flow solutions providing businesses with immediate access to funds tied up in outstanding invoices. Revenue generated through fees and interest charged on advanced funds.
- Retail Point-of-Sale Finance: Consumer financing at point of sale through retail partners. Revenue generated through merchant fees charged to retail partners and interest from consumer credit products.
- Business Loans: Debt financing products including secured and unsecured business loans, development finance, and working capital loans. Revenue from interest and origination fees.
- Vehicle Solutions: Vehicle leasing, fleet management, and salary sacrifice EV schemes for businesses and individuals. Revenue from lease payments and fleet management fees.
- Personal Finance Loans: Personal loans for individuals for home improvements, holidays, and other personal expenditures. Revenue from interest on loans.
- European Vendor Finance: Vendor and distribution channel financing across 25 European markets, delivered by Mitsubishi HC Capital UK. Revenue from financing arrangements with vendor partners.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Monthly | Interest-Free Credit |
| Subscription | Monthly | Interest-Bearing Credit |
| Transaction based/ take rate | Pay-as-you-go | Buy Now Pay Later |
| Other | Multi-year contract | Business Finance Products |
Go-to-market motion3 records
Distribution channels6 records
Marketing channels6 records
Novuna product offering
Product offeringCore offering
Novuna is a UK diversified financial services provider offering asset finance, invoice factoring, business loans, and development finance to SMEs; point-of-sale retail finance, Buy Now Pay Later, and interest-free credit to consumers through retail partners; personal loans to individuals; and vehicle leasing, fleet management, salary sacrifice EV schemes, and EV charging infrastructure to businesses. Operating as Mitsubishi HC Capital UK PLC, it serves over 1.4 million direct customers across consumer, business, and vehicle finance divisions.
Product overview
Novuna is a diversified financial services company offering a unified platform of connected solutions across consumer, business, and vehicle finance. The portfolio comprises six core divisions: Novuna Business Finance (flexible asset and project financing), Novuna Business Cash Flow (invoice finance and cash flow management), Novuna Consumer Finance (point-of-sale retail finance), Novuna Personal Finance (personal loans), Novuna Vehicle Solutions (vehicle leasing and EV infrastructure), and European Vendor Finance (vendor financing across 25 European markets). These divisions work together to deliver joined-up financial solutions, with specialized products including Buy Now Pay Later, Interest Free Credit, invoice factoring/discounting, business loans, asset finance, and EV charging forecourts. The company operates as a trading style of Mitsubishi HC Capital UK PLC, serving over 1.4 million direct customers.
Differentiator
Problem solved
Functional benefit
Products and services
- Novuna Business Finance Flexible asset and project finance for UK businesses, providing financing for assets including construction, manufacturing, transport, agriculture, technology, renewable energy, healthcare, and garage equipment. Also delivers B2B finance, stock finance, and block discounting through finance brokers and introducers.
- Novuna Business Cash Flow Invoice finance and cash flow solutions for UK SMEs, including invoice factoring, invoice discounting, reverse factoring, merchant cash advances, business loans (bridging, expansion, working capital), and the government-backed Growth Guarantee Scheme Loan.
- Novuna Consumer Finance Point-of-sale retail finance offered to consumers through UK retail partners, including Buy Now Pay Later, interest-free credit, interest-bearing credit, and membership and fee finance (private school fees, season tickets, golf memberships). FCA-authorised and integrated with retailer checkout systems via Open Banking and a Shopify payment app.
- Novuna Personal Finance Personal loans for individual UK consumers for home improvements, holidays, debt consolidation, and other major purchases. Available through web and mobile app platforms with self-service account management. Awarded Best Personal Loan Provider nine times by YourMoney.com.
- Novuna Vehicle Solutions Vehicle leasing, fleet management, EV charging infrastructure (EV charging forecourts), salary sacrifice EV schemes, and commercial fleet financing for UK businesses. Serves notable fleet clients including Royal Mail, Colas, Network Rail, and London Energy.
- European Vendor Finance Vendor and distribution channel financing across 25 European markets, delivered by Mitsubishi HC Capital UK to support vendor partners and their distribution networks.
Quantifiable outcome
- Customer satisfaction: 4.9/5 stars average for 5 consecutive years across thousands of reviews
- +2 more outcomes
Companies that use Novuna
Customer profileNamed customers14 records
Segments6 records
Ideal customer profiles4 records
Novuna technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration3 records
AI capability4 records
Feature5 records
Novuna partnerships and signals
Strategic signalPartnerships
20 partnerships are on record, tiered core, flagship and minor.
- SkarpercoreUK partnership offering interest-free financing for Skarper's removable eBike Drive System, allowing consumers to spread the cost over 10 months with no interest charges. Collaboration aims to lower upfront cost barrier for e-mobility technology.
- UK AthleticsflagshipMulti-year partnership as Title Partner of UK Athletics and the Great Britain & Northern Ireland national athletics team. Includes experiential marketing activations at athletics events and association with elite athletes including men's 200m champion Jeremiah Azu.
- WickescorePoint of sale finance partnership providing flexible payment options for home improvement customers at Wickes retail locations.
- HomebasecoreRetail finance partnership providing customers with flexible finance options for home improvement and gardening purchases.
- MagnetcoreKitchen finance partnership combining Magnet's kitchen expertise with Novuna's financial solutions for customers purchasing kitchens.
- TredzcoreCycling retail finance partnership providing flexible finance options for bicycle and cycling equipment purchases.
- SencillocorePartnership to transform school fee finance, providing parents with flexible options for private school fee payments.
- ColascoreOngoing partnership supporting continued rollout of new electric vehicle fleet for Colas operations.
- Royal MailcoreAppointment as partner to drive low-emission mobility adoption for Royal Mail's delivery fleet.
- Network RailcorePartnership supporting Network Rail's expansion of electric vehicles and charging infrastructure rollout.
- London EnergycoreExtended partnership supporting London Energy's complete fleet overhaul with EV transition.
- Bath RugbycoreOfficial Supplier and Club Sustainability Partner supporting Bath Rugby's sustainability initiatives.
- HoldensminorManchester creative agency that delivered 'Novuna Champions' experiential brand activation at UK Athletics Indoor Championships.
- Rocket SportsminorSports marketing agency that managed the Novuna Champions experiential activation at UK Athletics Indoor Championships.
- NCP CARminorApproved supplier status for new car club NCP CAR, providing vehicle financing solutions.
- Motus CommercialsminorMotus Commercials joined Novuna Vehicle Solutions' approved service network for commercial vehicle servicing.
- PCSpecialistminorRetail partnership for consumer technology finance, maximizing sales performance through point-of-sale financing.
- Bicycle AssociationcorePartnership to help unlock affordability in the cycling industry through new finance solutions.
- Athletic VenturesflagshipLandmark partnership announced for athletics-related initiatives and events.
- British Business BankcorePartner for pilot green asset finance variant of the British Business Bank's Growth Guarantee Scheme.
Scale indicators6 records
Recent moves7 records
Expansion highlights6 records
Novuna competitors and assessment
Company assessmentDirect peers
- Aldermore Bank: UK specialist bank providing asset finance, invoice finance, and SME lending. Competes directly with Novuna's Business Finance and Business Cash Flow divisions in the UK mid-market.
- Shawbrook Bank: UK specialist challenger bank focused on SME lending, asset finance, and bridging finance. Competes with Novuna's Business Finance division for SME asset and working capital finance in the UK.
- Siemens Financial Services: Captive finance arm of Siemens providing equipment leasing, vendor financing, and project finance solutions globally. Comparable to Novuna's asset finance, vendor finance, and project finance offerings.
- BNP Paribas Leasing Solutions: One of Europe's largest asset finance and leasing providers, offering equipment, vehicle, and vendor financing solutions across multiple European markets. Directly comparable to Novuna's asset finance, vehicle solutions, and European Vendor Finance divisions.
- Lombard North Central: Asset finance subsidiary of NatWest Group, one of the UK's largest asset finance providers across vehicles, equipment, and plant. Direct competitor to Novuna Business Finance and Vehicle Solutions.
- Bibby Financial Services: Global invoice finance and factoring provider with strong UK presence, serving SMEs with cash flow solutions. Directly comparable to Novuna Business Cash Flow's invoice factoring and discounting products.
- DLL (De Lage Landen): Global vendor finance and leasing company owned by Rabobank, providing asset-based financing solutions across multiple equipment verticals and geographies. Closely mirrors Novuna's asset finance and European Vendor Finance businesses.
- Close Brothers Asset Finance: UK-based specialist asset finance and SME lending division of Close Brothers Group, offering hire purchase, leasing, and refinancing to UK SMEs. Direct competitor to Novuna's Business Finance and Business Cash Flow divisions.
Emerging players
- Klarna: Leading global BNPL provider with significant UK retail point-of-sale presence. Competes with Novuna Consumer Finance in BNPL and interest-free credit at retail partner checkouts.
- Zopa: UK digital consumer lender offering personal loans and credit cards. Directly comparable to Novuna Personal Finance's personal loan offering in the UK consumer credit market.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks7 records
Key highlights7 records
Customer concentration
Novuna social profiles
Digital presenceNovuna financial estimates
Financial estimateRevenue estimate
Valuation estimate
Novuna leadership team
Management profileNumber of profiles
Novuna subsidiaries and ownership
Company hierarchySubsidiaries6 records
Novuna funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Novuna M&A and investment
M&A and investmentM&A
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Novuna
What does Novuna do?
Novuna is a UK diversified financial services provider offering asset finance, invoice factoring, business loans, and development finance to SMEs; point-of-sale retail finance, Buy Now Pay Later, and interest-free credit to consumers through retail partners; personal loans to individuals; and vehicle leasing, fleet management, salary sacrifice EV schemes, and EV charging infrastructure to businesses. Operating as Mitsubishi HC Capital UK PLC, it serves over 1.4 million direct customers across consumer, business, and vehicle finance divisions.
Is Novuna a public or private company?
Novuna is a private company. It is classified as corporate owned and is currently operating.
When was Novuna founded?
Novuna was founded in 2022. It employs 1,001 to 5,000 people.
Where is Novuna based?
Novuna is headquartered in Leeds, United Kingdom, in the Europe region.
How does Novuna make money?
Seven revenue lines are on record. Asset Finance is the primary driver. The others are invoice Finance / Factoring, retail Point-of-Sale Finance, business Loans, vehicle Solutions, personal Finance Loans and european Vendor Finance.
Who are Novuna's main competitors?
Direct peers on record are Aldermore Bank, Shawbrook Bank, Siemens Financial Services, BNP Paribas Leasing Solutions, Lombard North Central, Bibby Financial Services, DLL (De Lage Landen) and Close Brothers Asset Finance. Emerging players are Klarna and Zopa.
Does Novuna have an API?
No public API is recorded for Novuna.
What industry is Novuna in?
Novuna's product category is Diversified Financial Services. Its primary akta.pro industry code is FSAHAJAF, Direct Lending — Specialty Finance (Consumer/SME Lending Platforms), with a secondary code of FSABABAF, SME Trade Finance & Working Capital (LCs, Guarantees, Receivables). Its NAICS code is 52 and its SIC code is 6141.