1Plus1 Loans

What 1Plus1 Loans does

Credit Labs Limited, trading as 1Plus1 Loans and Rate Drop, is a UK-based direct-to-consumer online lender founded in 2013. The company offers unsecured personal loans ranging from £1,000 to £5,000 over 12 to 60 months to UK consumer borrowers, with use cases spanning debt consolidation, home improvements, car purchases, and unexpected expenses. Its flagship differentiator is the proprietary Rate Drop™ technology, which automatically reduces a borrower's APR — from a starting 39.9% to 37.2% after six consecutive on-time monthly payments, and further to 34.5% after a further six — without requiring refinancing or reapplication. The company operates as a direct lender (not a broker) through a fully online application process with an initial soft credit search and same-day funding capability.

The business model is straightforward balance-sheet lending: Credit Labs generates revenue through interest charged on originated loans, with a representative 39.9% APR (variable) on the headline product. The company is FCA-authorised (FRN 717767), ICO-registered, and a member of the Consumer Credit Trade Association, supporting its responsible lending positioning. It leverages Equifax for credit reference data, Feefo for verified customer reviews (4.9/5 across 42 reviews), and digital marketing channels (SEO, content, website) for customer acquisition. In 2024, the corporate entity 1Plus1 Loans Limited was renamed Credit Labs Limited and the company began trading primarily under the Rate Drop brand while continuing to service legacy 1Plus1 Loans customer accounts. The firm operates with a lean headcount of 1-10 employees from a registered office in Liverpool, suggesting significant operational outsourcing, and last received institutional capital from Quilam Capital in 2018.

Name

1Plus1 Loans

Legal name

Credit Labs Limited

Website

https://1plus1loans.co.uk

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

1–10 employees

Short description

Credit Labs Limited, trading as 1Plus1 Loans and Rate Drop, is a UK FCA-authorised direct-to-consumer online lender offering unsecured personal loans of £1,000-£5,000, distinguished by its proprietary Rate Drop™ technology that automatically reduces borrower APR after consecutive on-time payments.

Ownership category

akta.pro rank

Product category

Consumer Lending

NAICS

Nondepository Credit Intermediation (5222)

SIC

Personal Credit Institutions (6141)

akta.pro primary industry

Debt Consolidation Personal Loans (Unsecured Installment) (FSAKAAAD)

akta.pro secondary industry

Multi-Loan / Multi-Creditor Consolidation Loans (FSAKAIAD)

Keywords

• Unsecured personal loans
• Direct online lending
• Consumer credit
• Debt consolidation loans
• Short-term installment loans

Headquarters

HQ city

Prescot

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Loan Interest Revenue: The company generates revenue through interest charged on unsecured personal loans. Borrowers pay monthly repayments that include principal and interest. The representative APR is 39.9%, with rate reductions available for on-time payers (37.2% after 6 payments, 34.5% after 12 payments). Revenue is a function of loan principal, interest rate, and loan term.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Credit Labs Limited, trading as 1Plus1 Loans and Rate Drop, is a UK FCA-authorised direct lender offering unsecured personal loans of £1,000–£5,000 over 12–60 months at a representative 39.9% APR. The flagship differentiator is Rate Drop™ technology, which automatically reduces a borrower's APR from 39.9% to 37.2% after six consecutive on-time monthly payments and further to 34.5% after twelve, with no refinancing or reapplication. The company operates a fully online, direct-to-consumer origination model and services existing legacy 1Plus1 Loans accounts.

Product overview

1Plus1 Loans (trading as Rate Drop) is a direct lender operated by Credit Labs Limited. The company offers a single core product — the Rate Drop unsecured personal loan — with loan amounts from £1,000 to £5,000 over 12 to 60 months. The flagship differentiator is the Rate Drop feature, which automatically reduces the borrower's APR after consecutive on-time payments without refinancing or reapplication. The legacy 1Plus1 Loans brand is being phased out in favour of Rate Drop, though existing customer agreements remain unchanged under the same terms.

Differentiator

Problem solved

Functional benefit

Products and services

• Rate Drop Unsecured Personal Loan Unsecured personal loan of £1,000–£5,000 over 12–60 months offered directly to UK consumers aged 18–69 who are employed (not self-employed). Features the proprietary Rate Drop™ mechanism that automatically reduces the borrower's APR from 39.9% to 37.2% after six consecutive on-time monthly payments and further to 34.5% after twelve, with no refinancing or reapplication. Representative 39.9% APR (variable); fully online application with soft credit search, no application fees, and same-day funding available.
• 1Plus1 Loans Legacy Servicing (Servicing-only) Legacy brand of unsecured personal loans originally offered by Credit Labs Limited. No longer originated to new customers following the 2024 launch of the Rate Drop brand; maintained only to service existing 1Plus1 Loans customer agreements on their original terms, with Direct Debits now showing as Credit Labs on bank statements.

Quantifiable outcome

• APR reduction from 39.9% to 34.5% (final rate) for borrowers who maintain on-time payments

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature1 record

Partnerships

Four partnerships are on record, tiered supporting.

• FeefosupportingOthersFeefo provides independent verified customer review services. Rate Drop displays Feefo reviews (4.9/5 rating from 42 reviews) on their website to build customer trust and credibility. Feefo logo appears in the support section of the website.
• EquifaxsupportingTechnology or IntegrationEquifax provides credit reference data services used during the loan application process. The company logo appears in the website footer indicating its role as a supporting technology partner for creditworthiness assessments.
• Consumer Credit Trade Association (CCTA)supportingOthersCCTA is a trade association for consumer credit providers. Membership demonstrates commitment to industry standards and responsible lending practices. CCTA logo appears in the website support section.
• Responsible LendersupportingOthersResponsible Lender certification/association indicating commitment to responsible lending practices and consumer protection standards. Logo appears on website.

Scale indicators2 records

Recent moves5 records

Expansion highlights3 records

Direct peers

• Everyday Loans: UK specialist unsecured personal-loan lender focused on near-prime / poor-credit borrowers, with online and high-street origination in similar £1,000–£5,000 ticket sizes — directly comparable to 1Plus1 Loans / Rate Drop's product, customer segment, and direct-lender model.
• Oakam: UK subprime personal-loan specialist using a behavioural-pricing model similar in spirit to Rate Drop™, targeting borrowers turned away by mainstream lenders. Closest direct analogue in terms of model, customer, and product construct.
• Provident Personal Credit: Long-standing UK direct lender providing small-ticket unsecured personal loans to near-prime borrowers, FCA-authorised. Comparable in regulation, ticket size, target customer, and direct-to-consumer online distribution.
• Amigo Loans: UK FCA-authorised lender focused on borrowers refused by mainstream banks (historically guarantor-backed, now personal loans). Same customer profile, regulatory perimeter, and direct-lender model as 1Plus1 / Rate Drop.
• Moneyboat: UK FCA-authorised direct online installment lender for short-term, small-ticket unsecured credit to similar near-prime customers. Directly comparable on product structure, ticket size, and online-only distribution.
• Sunny: UK FCA-authorised direct online installment lender offering small-ticket unsecured loans to near-prime borrowers — same operating model, ticket range, and regulatory constraints as 1Plus1 / Rate Drop.
• Cashfloat: UK FCA-authorised direct online installment lender offering small-ticket unsecured personal loans to near-prime borrowers with online application and same-day decisions — directly comparable on product, channel, and customer.
• Lending Stream: UK FCA-authorised direct online installment lender providing small-ticket unsecured personal loans to near-prime customers. Highly comparable operating model and target borrower.
• Likely Loans: UK online personal-loan provider (panel of lenders) for near-prime borrowers in similar ticket sizes, advertising soft-search applications. Comparable on product and target borrower even though its primary distribution model is a lender panel.

Broad incumbents

• Zopa: Established UK consumer lending and savings platform that has moved into direct personal loans. Comparable broad category (UK consumer credit) but operates at much larger scale, with deposits and a broader product suite — a broader incumbent rather than a focused niche competitor.

Market position

Strengths3 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/1plus1Loans
• Facebookfacebook.com/1plus1loans

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about 1Plus1 Loans