Creditspring Passes £600 Million in Loans Supporting Over 300,000 Users in the UK

Creditspring, the subscription-based credit provider on a mission to improve financial stability across the UK, has revealed that it has provided £600 million in loans and surpassed 300,000 active members in the UK as demand for fair, transparent credit options has surged.

The growth in Creditspring’s membership shows consumers are turning away from traditional high-cost credit products and responding to the company’s fixed-fee, no-interest model that makes borrowing simple, predictable, and transparent. The company is doubling down on that support, expanding the team in the UK with headcount set to increase 20% by the end of the year.

A new model for borrowing

Creditspring was founded in 2016 to drive a movement towards making credit fair and transparent, in a market that is often associated with high-interest payday loans and other high-cost credit products which have millions vulnerable to debt spirals. By charging fixed monthly payments, for access to pre-agreed credit, Creditspring removes the risks of escalating interest and hidden charges.

This approach, combined with inclusive underwriting and the use of Open Banking for affordability checks, means Creditspring can support applicants who are often overlooked by mainstream lenders, particularly those on lower incomes or with thin credit histories.

Neil Kadagathur, CEO and co-founder of Creditspring, said: “Credit in the UK has long been stacked against people – complex, expensive, and designed to profit from hardship. We wanted to flip that on its head. By removing interest and hidden fees, we’ve created a fixed fee model that people can finally trust. Today, over 300,000 people rely on Creditspring, proving that ethical, transparent credit not only works for now but can support financial stability for the long-term.”

Supporting financial stability

Beyond lending, Creditspring is investing in tools to help members build long-term resilience, including its Benefits Finder, and the Learning Academy powered by Doshi, which improve financial literacy and ensure members are supported at every stage of their financial journey.

With cost-of-living pressures continuing to impact households across the UK, Creditspring’s subscription finance model offers a safer, more sustainable way for people to access emergency funds when they need them most.