Likely Loans
Unsecured personal loans for near-prime UK borrowers.
| Date | Investors | Amount | Round |
|---|---|---|---|
* | N/A | - | |
| Total Funding | 000k | ||
| GBP | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % growth | 63 % | 30 % | 21 % | (16 %) | (21 %) | 15 % | (13 %) |
| EBITDA | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % EBITDA margin | (41 %) | (8 %) | (9 %) | 49 % | 44 % | 16 % | - |
| Profit | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % profit margin | (43 %) | (8 %) | (9 %) | 16 % | - | (27 %) | (27 %) |
| EV | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| R&D % of revenue | 62 % | 48 % | 65 % | 93 % | - | - | - |
Source: Company filings or news article
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Likely Loans was a UK-based direct lender that provided unsecured personal loans, operating as a trading name of Oakbrook Finance. The company was established in 2014 and founded by Manoj Badale. It was positioned to serve borrowers with less-than-perfect credit who might be unable to access mainstream lending options. The firm's business model focused on offering a flexible approach, evaluating more than just an applicant's past financial behavior to make lending decisions.
In September 2022, the Likely Loans brand was retired for new customers and rebranded to Finio Loans. Existing Likely Loans customer accounts and loan terms were not affected by this change and continue to be managed under the new brand. Finio Loans now provides personal loans from £1,000 to £5,000 with repayment terms of 12 to 36 months, continuing the service of its predecessor. The company does not charge arrangement fees for its loans.
Likely Loans, and now Finio Loans, operates under its parent company, Oakbrook Finance Limited, which was founded in 2011. Oakbrook Finance is authorized and regulated by the Financial Conduct Authority (FCA). The company utilizes technology and data analytics, including Open Banking, to make more personalized and responsible credit decisions based on up-to-date financial information. This digital-first approach includes a simple online application process where prospective borrowers can check their eligibility without impacting their credit score, with funds typically transferred the same day upon approval.
Keywords: personal loans, unsecured lending, direct lender, consumer finance, bad credit loans, financial services, fintech, online lending, loan application, credit assessment, non-prime lending, UK finance, Oakbrook Finance, Finio Loans, loan eligibility, debt consolidation, personal finance, credit score, financial technology, alternative lending