Fairlo hopes to lead the way for other credit companies, joining the movement for more positive and less toxic lending practices by becoming a B Corp. Being a B Corp, a certified B Corporation, means that B Lab verifies that the company meets high standards of social and environmental performance, transparency, and accountability.
9am BST, 8th July, London, UK : Fairlo, a leading consumer credit fintech, today announced that it has received B Corp certification, joining a global movement of businesses dedicated to fostering an inclusive, transparent, and sustainable economy.
Commenting on the achievement, Jimmy Hanna, CEO and founder of Fairlo, said: “The entire process has taken almost a year and it is with no small amount of pride we announce our certification as it proves not only our commitment to our original vision of challenging the predatory credit industry, it also proves our commitment to staying focused on tangible and measurable improvement across all areas we impact moving forward”
Fairlo’s assessment in detail: https://www.bcorporation.net/en-us/find-a-b-corp/company/fairlo/
World’s first fairness receipt
The B Corp certification marks a new milestone in Fairlo’s quest for introducing accountability and transparency to credit services, following features like the world’s first Fairness Receipt, a detailed breakdown of the deal. Where does the money go and what do we stand to profit? In short, what finance geeks call “unit economics”.
Gaining momentum
Fairlo was one of only two Swedish companies on top 10 of Financial Times and Statista’s 2024 ranking of Europe’s fastest-growing companies. It received its UK FCA licence last year and is now showing sustainable and profitable growth, momentum that is now being used for gaining leverage on the Swedish and British markets.
Matthew Cochrane, COO of Fairlo, said:
“Our proven track record in Sweden, our 4.7 Trustpilot score, our FCA licence in the UK and now the B Corp certification are all amazing proof points of why Fairlo is needed and makes sense for the UK market”.
