Abound posts revenue and property growth
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The results represent another year of rapid growth for the company, as it continues to scale its Open Banking and AI-enabled credit offering, cementing its position as one of the UK's fastest growing fintechs. This impressive growth is a result of both its direct lending business and its B2B offering, which is now being used by clients ranging from high street banks to other fast-growing fintechs.
For the financial year ending February 2025, Abound recorded £66.8 million in revenue, up from £26.6 million the year prior — a 151% increase.
Net Profit surged to £7.5 million, a twenty-five-fold increase from £0.3 million the previous year.
The announcement follows a string of recent milestones, including:
• Being ranked #11 in the Sifted 100: UK & Ireland Leaderboard, which recognises the two countries' fastest-growing startups by revenue growth
• Raising a new £250m lending facility from Deutsche Bank
• Being selected to join the Tech Nation Future Fifty growth programme, with Abound's founders meeting the Prime Minister at 10 Downing Street
Abound's co-founder and CEO, Gerald Chappell, said:
'Abound became profitable after just three years — unusually early for a UK fintech.
'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.'
Co-founder and COO, Dr Michelle He, 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 £1.6bn in debt funding from the likes of Citi, Deutsche Bank and Waterfall Asset Management.
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