UK fintech Lendable raises £500m in debut public ABS deal ahead of US and Mexico expansion #

London-based digital lender Lendable has raised £500 million (approximately $670 million) by selling asset-backed securities tied to a portfolio of unsecured consumer loans. The deal is the company’s first in the public securitisation market and comes as it prepares to expand into the United States and Mexico.

Goldman Sachs-backed Lendable finalised terms on Thursday, July 9. The securities, structured under the name Hoxton Consumer Loan Funding 2026-1, are backed by personal loans issued to UK consumers. Bloomberg reported this is the first time Lendable has accessed the public asset-backed securities market, citing sources familiar with the transaction.

Martin Kissinger, Victoria van Lennep, Paul Pamment, and Jakob Schwarz founded Lendable in 2014. The company runs a fully automated, AI-driven lending platform that processes and approves consumer credit applications digitally, without branch visits or paper-based processes. The company says it can approve a new loan in seconds.

The capital raise follows a strong 2025. Lendable reported a 120% rise in annual profits and a 90% jump in revenues to £446 million, according to The Paypers. Experian data cited in the same report showed Lendable issued more new consumer credit loans by volume in 2025 than any other UK lender, including the country’s largest banks, and ranked second in new credit card issuances.

Co-founder Kissinger has said publicly that most consumer credit is still handled by large banks that, in his view, are not delivering the best possible service. Lendable sees the US market, where its Zable-branded product already operates, as an opportunity given continued strong consumer demand for personal credit.

Rather than relying on equity rounds or bilateral debt arrangements with institutions, Lendable can now draw on a broader pool of fixed-income investors. Earlier growth was partly funded through a commitment from Goldman Sachs. Analysts have noted that public capital markets could provide a more scalable and lower-cost funding base as origination volumes grow.

UK fintech lenders have increasingly used structured finance to diversify funding as they scale, following a pattern seen earlier among consumer credit platforms in the US.

Source: PYMNTS