AI-powered lending technology platform Abound has more than doubled revenue in a year and delivered a mammoth 25-fold increase in profit.
The fast-growing FinTech, which was ranked 11th on the Sifted 100: UK & Ireland Leaderboard, recorded £66.8m in revenue for the year ending February 2025 – up from £26.6m the year before.
Net profit surged to £7.5m, which was a 25x increase from £0.3m the previous year.
The London-based firm recently raised a new £250m lending facility from Deutsche Bank and will continue to scale its open banking and AI-enabled credit offering.
In May, it was announced that the company had been selected to join the Tech Nation Future Fifty growth programme, with Abound’s founders meeting the Prime Minister at 10 Downing Street.
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“Abound became profitable after just three years – unusually early for a UK fintech,” said Abound co-founder and CEO, Gerald Chappell.
“This continued growth shows that our technological shake-up of the lending sector is not only commercially viable, but scalable.
“Rapid growth and sustainable profitability are a rare combination in FinTech.”
Dr Michelle He, co-founder and COO of Abound, added: “With structurally higher interest rates and sluggish economic growth, the era of rapidly growing tech firms without a clear path to profit is ending.
“Established, profitable sectors like lending and insurance are now ripe for disruption with technology that drives real productivity and efficiency. That’s our focus, and it’s the right strategy.”
The business has secured a total of £1.6bn in debt funding from the likes of Citi, Deutsche Bank and Waterfall Asset Management.