• New brand evolves from Lending Works, the pioneer of real rates and a leader in UK consumer fintech over the past decade
  • Fluro launches with the ambition of being the UK’s leading embedded lender

London, Monday 5th September 2022 — Today sees the launch of Fluro as an institutionally-funded embedded lender.

The brand represents a new name and an ambitious refreshed strategy for Lending Works, building on the company’s track record of pioneering real rates to ensure that consumers get a fair deal through greater transparency on the rate they’ll pay, rather than only using representative APRs.

Alongside lending via online intermediaries, Fluro will focus on working with partners to integrate consumer loans seamlessly into their existing offers.

Technology is increasingly enabling consumers to access financial services from a wider range of platforms and providers. Reflecting this, Fluro’s strategy will focus on the commercial opportunity in embedded finance as partners, rather than building their own offers from scratch, instead choose a white-labelled approach.

With a growing proportion of Fluro’s lending taking place via partnerships, the company will benefit from its experience as a data-centric fintech, enabling stringent affordability checks and unparalleled customer experience, with credit decisions being reached as quickly as within 10 seconds.

Fluro benefits from a decade’s worth of data and insights on risk and consumer lending, and last year announced enhancements to its credit framework, credit decisioning and fraud prevention strategies.

It will also continue Lending Works’ focus on customer experience and advocating for positive change in the lending industry, having led the industry in ensuring that customers receive greater transparency in advertised interest rates and launched its real rates technology in 2016.

In 2020, Lending Works secured backing from Intriva Capital, which has subsequently provided significant additional funding to scale-up the platform’s operations, and last year announced a series of senior hires as the company grew its leadership team, growing its team to 75 employees.

Commenting, Fluro Founder and CEO Nick Harding said:

“Fluro creates market leading embedded lending products that empower our partners and enable consumers to create positive and energising changes in their lives, whether that’s building an extension for their house or buying a new car. Our new brand reflects the development of our customer proposition and culture, as well as our ambitions for the business.

“Lending Works has led the industry: in pioneering real rates, our technology, our standards of customer experience and our data-led approach. Fluro will build on these strengths as we look ahead to the business’ next chapter. The company has evolved into an agile embedded lending business, but we will continue to put fairness and the end customer’s interests at the heart of everything we do.

“Embedded finance is a huge opportunity, with the potential to transform the way consumers access financial services. Our aim is for Fluro to be the go-to partner of choice in the lending space, continuing to build game-changing customer experiences.

“Today’s announcement is the culmination of many months of work, and I would like to pay tribute to Fluro’s outstanding, and fast-growing, team. Today’s launch is their achievement.”