What Evolution Money does

Evolution Money is a Manchester-based UK secured homeowner lender, founded in 2011 and operating within the Evolution Money Group alongside two FCA-regulated subsidiaries: Evolution Lending Limited (mortgage lender, FRN 709488) and Progressive Money Ltd (direct lender, FRN 690699). The Group has funded over £547m to more than 58,379 accepted customers and approved more than 33,860 loans since inception through to March 2025, with the core product being secured homeowner loans of £5,000 to £105,000 over 3-20 year terms at variable interest rates of 8.6% to 27.87% (17.46% representative APRC).

The company's proposition is built on a holistic, bespoke underwriting approach for UK homeowners who are typically declined by high-street lenders due to credit history, rather than automated credit-scoring alone. Its technology stack combines an online eligibility-checker, an iOS/Android mobile app (powered by Nivo), AI-assisted credit assessment and fraud detection, AI-powered customer support chatbots, and integrations with the three major UK credit reference agencies (TransUnion, Equifax, Experian) plus an Open Banking provider. Distribution is hybrid: direct-sales loan advisors, online self-serve application, and a mobile app, with brand trust reinforced by Feefo reviews (4.8/5), B Corp certification and multiple industry awards including Sunday Times Virgin Fast Track 100 (29th, 2016).

Revenue is generated through interest charges on secured loans, a product fee typically 8-10% of loan amount, and a jurisdiction-differentiated lending fee (£763 in England & Wales, £1,051 in Scotland, £1,736 in Northern Ireland). The company is privately held, employs 51-100 people (down from over 150 reported in 2017), and operates exclusively in the UK market with no disclosed external funding rounds.

Name

Evolution Money

Legal name

Evolution Money Limited

Website

https://evolutionmoney.co.uk

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

51–100 employees

Short description

Evolution Money is a UK FCA-regulated secured homeowner lender that provides £5,000–£105,000 loans to sub-prime homeowners declined by high-street lenders, using a holistic underwriting approach supported by AI-assisted credit assessment, a mobile app and three Group-owned FCA-regulated lending entities.

Ownership category

akta.pro rank

Headquarters

HQ city

Manchester

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Secured Homeowner Loans: Provides secured loans ranging from £5,000 to £105,000 with terms of 3 to 20 years. Revenue generated through interest charges (Annual Interest Rates from 8.6% to 27.87% variable) and fees including Product Fee and Lending Fee.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

Evolution Money is an FCA-regulated UK credit broker and specialist lender that arranges and provides secured homeowner loans for individual consumers, typically ranging from £5,000 to £105,000 over 3 to 20 years at representative APRCs of 8.6% to 27.87%. The company serves use cases such as debt consolidation, home improvement, vehicle purchase, and other personal financing needs for UK homeowners, including customers with adverse credit or who are self-employed. Loans are originated directly via the group's own lender (Evolution Lending Limited) and a panel of second-charge lenders, distributed through the Evolution Money website and mobile app.

Product overview

Evolution Money operates as a secured homeowner loan specialist offering a unified lending platform with multiple product variants. The core product is Secured Homeowner Loans (£5,000-£105,000, 3-20 year terms, 8.6%-27.87% variable APRC), which serves as the foundation for specialised sub-products including Debt Consolidation, Home Improvement, Bad Credit, Car, Holiday, Wedding, Bike, Business Investment, Self-Employed, No Guarantor, Joint, Long Term, and Instalment Loans. The company differentiates through its holistic assessment approach, evaluating individual circumstances beyond credit scores. A mobile app complements the product suite for on-the-go access.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• Over £547m funded to 58,379+ customers since 2011
• +2 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

AI capability4 records

Feature4 records

Partnerships

Four partnerships are on record, tiered core.

• Evolution Lending LimitedcoreChannel Partner/ Reseller/ DistributorEvolution Money is a licensed credit broker and service provider to Evolution Lending Limited, who are authorised and regulated by the FCA (709488). Evolution Lending Limited provides the actual lending for secured homeowner loans.
• Progressive Money LtdcoreStrategic or Co-development PartnerWholly owned subsidiary of Evolution Money Group. Progressive Money Ltd is authorised and regulated by the FCA (690699) as a direct lender and licensed credit broker.
• Credit Reference Agencies (TransUnion, Equifax, Experian)coreTechnology or IntegrationUsed to confirm customer identity, search electoral roll, obtain credit reports for loan decisions, and report loan status/management. Essential for creditworthiness assessment.
• FeefocoreGTM or Marketing PartnerIndependent review platform hosting customer reviews and ratings for Evolution Money. Provider of Platinum Trusted Service Award based on customer feedback.

Scale indicators6 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Together Money: UK specialist lender focused on secured and bridging finance to near-prime and subprime borrowers, including second charge mortgages. Highly comparable to Evolution Money in target customer (homeowners with credit blemishes), product mix (secured loans), and use cases (debt consolidation, home improvement).
• United Trust Bank: UK specialist bank offering second charge mortgages, bridging finance, and specialist BTL mortgages. Comparable to Evolution Money in serving specialist secured lending segments with a focus on borrowers underserved by mainstream banks.
• Masthaven Bank: UK specialist challenger bank that historically focused on second charge mortgages and bridging finance for self-employed and credit-challenged borrowers. Highly comparable to Evolution Money in product mix and target customer profile.
• Precise Mortgages: UK specialist mortgage lender offering residential and buy-to-let mortgages to near-prime borrowers. Comparable to Evolution Money in focusing on borrowers outside standard high-street bank criteria, with similar secured lending expertise.
• Kensington Mortgages: UK specialist mortgage lender focused on self-employed, high loan-to-value, and credit-challenged borrowers. Comparable to Evolution Money in serving underserved borrowers with bespoke underwriting outside high-street bank criteria.

Broad incumbents

• Shawbrook Bank: UK specialist challenger bank offering secured lending, business finance, and savings products. Comparable to Evolution Money in specialist secured lending to underserved segments, but operates at materially larger scale and broader product portfolio.
• Aldermore Bank: UK challenger bank offering residential and buy-to-let mortgages, second charge loans, and specialist finance. Comparable to Evolution Money in second charge mortgage offering, but with broader product range and significantly larger balance sheet.
• OneSavings Bank (Kent Reliance): UK specialist bank offering buy-to-let, residential, and second charge mortgages, plus business finance. Comparable to Evolution Money in second charge mortgage and specialist secured lending, but at much larger scale and broader product portfolio.
• Paragon Bank: UK specialist bank with strong buy-to-let and second charge mortgage franchise, plus commercial lending. Comparable to Evolution Money in second charge mortgage offering to near-prime borrowers, though at significantly larger scale and broader product mix.

Emerging players

• Lendable: UK fintech lender offering consumer loans, car finance, and business loans using data-driven underwriting. Comparable to Evolution Money in UK consumer credit market, but with digital-first model and broader product range; an emerging technology-enabled competitor for similar customers rather than a direct secured loan peer.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/evolutionmoney

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

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

M&A

Investments1 record

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

Frequently asked questions about Evolution Money