Business & Technology
Creditspring tops GBP £1 billion in loan disbursements
KAREN JOY BACUDO
Finance Editor
Creditspring has surpassed £1 billion in total loan disbursements, a milestone that marks a turning point for the lender’s subscription-based credit model.
It reached the figure in July after a period of rapid growth following its strongest full year to date. Since launching in 2016, Creditspring has provided more than 2.2 million loans and supported more than 1 million people across the UK.
The development highlights changes in the consumer lending market as households continue to face pressure on day-to-day finances. Lenders are trying to meet demand for borrowing that is easier to understand and less exposed to the variable charges and repayment uncertainty often associated with short-term credit.
Creditspring’s model differs from conventional short-term lending because customers pay a fixed subscription fee rather than interest on individual loans. In return, members can access no-interest loans when they face unexpected costs, a structure the company says gives borrowers more certainty over repayments.
The £1 billion mark was reached less than a year after the end of 2025, which Creditspring described as its strongest year on record. By the close of that year, it had 350,000 active paid subscribers.
Growth model
Founded in 2016, Creditspring has built its offer around small-sum lending with fixed costs disclosed in advance. It says this approach reduces the risk of hidden fees and makes budgeting easier for customers who need to borrow to cover gaps in household spending.
That pitch has gained traction at a time when regulators, consumer groups and lenders are all facing questions about how to provide access to credit without pushing borrowers into greater financial difficulty. For companies in the sector, the central challenge remains how to widen access while maintaining affordability checks and support for customers under stress.
Creditspring uses data from TransUnion and Equifax during the customer journey and verifies applicants through Open Banking. It says the process helps assess affordability and identity while expanding access for some people whom other lenders may have turned down.
It has also developed a separate product, Creditspring Go, which it describes as a credit trainer designed to help members improve their financial profile before qualifying for full access to loans. Alongside that, the group says it has focused on repayment flexibility, customer support and internal operations.
Wider support
The lender has sought to position its offering as broader than credit alone. According to Creditspring, 83% of members used its Benefits Finder tool to identify an average of £1,208 a month in benefits they had not previously claimed.
That points to a wider trend among consumer finance providers, many of which are trying to combine lending with budgeting, eligibility checking and other forms of financial assistance. The aim is partly commercial, but it also reflects pressure on providers to show that their role extends beyond issuing loans.
As of June 2026, Creditspring employed 146 people. It has continued to invest in processes and AI-powered support tools to improve response times and service availability while maintaining customer support.
Customer satisfaction has also been a focus as volumes have increased. Creditspring says it has received more than 11,000 five-star reviews on Trustpilot since January 2025, while customer service satisfaction remained between 83% and 93% during the year despite higher contact levels.
Consumer pressure
The company’s expansion comes as many households remain exposed to higher essential costs and limited savings buffers. In that environment, demand for short-term borrowing does not disappear, but scrutiny of the form that borrowing takes becomes more intense.
For lenders seeking to position themselves as alternatives to high-cost credit, scale matters because it suggests a model can operate beyond a niche customer base. Creditspring is likely to use the £1 billion threshold to argue that fixed-fee lending can grow while retaining a structure distinct from interest-based products.
“Reaching £1 billion in loan disbursements in our 10th year is a significant moment for Creditspring, but we are focused on the reality behind that number: millions of moments when people needed a safer, clearer way to manage unexpected costs. Our mission has always been to make credit fairer and more predictable for borrowers. Too many people in the UK are still forced towards expensive, confusing or harmful forms of borrowing when life throws something at them. This milestone shows that a different model, built on transparency, control and long-term financial stability, is not only deeply needed but also truly scalable,” said Neil Kadagathur, Chief Executive Officer of Creditspring.
Business & Technology
UK clothing retailer at risk after entering administration
Activewear Group Ltd, established in March 2014, is a clothing and fashion retailer specialising in affordable activewear, workwear, and uniforms.
The company, which also offers printing and embroidery services, trades directly with leading brands and maintains strong relationships with the UK’s top wholesalers.
Activewear’s LinkedIn profile adds: “Our aim is to provide the highest quality of service to ensure a great end user customer experience through a cost effective approach.”
The company operates online via its website and from a 1,750 square foot warehouse in Redditch, with a 1,500 sq ft area which is used as a showroom, packing, and office/meeting area.
Activewear Group enters administration after 8 years
Now, Activewear Group is at risk of closing after having fallen into administration.
Stuart Kelly and Claire Harsley from Mackay Goodwin Limited were appointed joint administrators on July 8, according to The Gazette.
Activewear Group had registered a charge with Companies House in June, just weeks before entering administration.
The charge represents a loan or debt secured against the company’s assets, giving lenders priority in the event of insolvency.
There is a clearance sale currently running on the Activewear Group website, while other sections are unavailable.
What happens when a company goes into administration?
When a company enters administration, it means that it is unable to pay expenses, debts, or other liabilities, according to SquareUp.com.
Companies House adds: “When a company goes into administration, they have entered a legal process (under the Insolvency Act 1986) with the aim of achieving one of the statutory objectives of an administration. This may be to rescue a viable business that is insolvent due to cashflow problems.
“An appointment of an administrator (a licensed insolvency practitioner) will be made by directors, a creditor or the court to fulfil the administration process.”
A statutory moratorium is put in place once a company enters administration, giving it “breathing space” to allow for financial restructuring plans to be drawn up free from creditor enforcement actions.
A company can continue to trade while in administration, but daily management and control are handed over to the administrators.
Companies House continues: “Within 8 weeks it is the administrators’ role to formulate administration proposals.
“Creditors are then asked to vote by a decision procedure to approve the administrators’ proposals.
“If the administration involves a sale of all or part of the company’s business, the proceeds (after the costs of the procedure) will be distributed to creditors in a statutory order of priority.”
Administration will end automatically after 12 months unless the administrator asks the court or creditors for an extension.
Through administration, a company can be:
- Rescued and passed back to the directors
- Enter liquidation
- Be dissolved
Other UK companies that have closed or entered administration/liquidation in 2026
It has been a tough year for the UK high street, with several other retailers entering administration or liquidation and others announcing widespread store closures.
Major high street brands LK Bennett, Claire’s, and Quiz have been forced to close all their remaining stores after falling into administration.
UK fashion retailer Leading Labels is also set to close its remaining 15 stores after falling into liquidation.
TG Jones will be closing 150 stores across the UK as part of a “restructuring” plan approved by the High Court on Wednesday (July 1).
Other retailers have been forced to close stores this year, including:
Several UK travel companies have also ceased trading or entered administration in 2026:
Luxury UK holiday company Salamander Voyages shut down back in April after entering administration.
Meanwhile, four UK airlines have fallen into administration or liquidation:
UK delivery company Yodel is set to be phased out over the coming months after being acquired by InPost.
It’s also been reported that Morrisons is looking to sell some of its in-store pharmacies as it continues to cut costs.
It hasn’t all been bad news for the UK high street, with several major brands announcing new store openings for 2026, including Aldi, M&S, and Superdrug.
Plus-size clothing brand Evans also returned to the UK high street recently after closing all its stores and concessions in December 2020.
Bodycare is also set to return to the UK high street in 2026 after closing all its stores last year, having fallen into administration.
Have you ever purchased clothing from Activewear Group Ltd before? Let us know in the poll above or in the comments below.
Business & Technology
UK travel firm dissolved with bosses living in Spain
Bosses at the Chipping Norton-based firm have voluntarily struck it off, the legal process where directors proactively apply to remove an unwanted or inactive company from the official register
On the Content Ltd was incorporated in November 2022 but was dissolved almost four years later in April 2026.
READ MORE: 80s singing legend ‘absolutely gutted’ in honest admission
Described as a travel agency when open, no reason has been given for the company being dissolved by its directors.
In practice, voluntary dissolution usually means the directors decided the company was no longer needed or no longer trading, but that inference is not stated on the register itself.
There were two active directors recorded throughout: Anna Louise Cole and Roma Cots Cole, both British nationals living in Spain and appointed on incorporation.
Business & Technology
Intruder launches AI web app pentesting at lower cost
Intruder has launched an AI pentesting product for web applications, offering customers on-demand penetration testing through its platform.
Organisations can connect code repositories through GitHub or GitLab, allowing tests to be scoped and started automatically, with results and reporting delivered within hours, according to Intruder.
The launch builds on Intruder’s earlier use of AI for issue-level investigations, where autonomous agents validated scanner findings and reduced false positives. This release moves beyond checking individual issues to analysing a broader web application environment using source code access.
The system is designed as a white-box test, giving the software visibility into the application codebase while it assesses weaknesses. Intruder says the agents were built and trained by CREST-certified pentesters and are intended to mirror the methods used in manual testing engagements.
The move comes as security teams face pressure to review software more often while engineering teams ship updates faster. Intruder cited its own survey of security leaders, which found that 49% named AI and automation as their top investment priority for 2026, while 42% described their teams as stretched, overwhelmed, or consistently behind.
Intruder also pointed to a narrowing window between the disclosure of flaws and their exploitation, arguing that annual penetration tests no longer match the pace of modern software releases. Major deployments are now taking place weekly, increasing the need for more frequent application testing, it said.
Cost pressure
Intruder is pitching the product to small and medium-sized businesses, as well as existing customers already using its broader security platform. The company says the web application pentest costs 25% or less than a traditional manual engagement, with prices starting at USD $3,500 per test.
Existing customers can view pentest findings alongside attack surface, cloud, and vulnerability data in the same platform. New customers can also scope and run a test through the company’s free plan, according to Intruder.
Audit reporting is also part of the launch. Each test produces a full pentest report that can be used as evidence for compliance frameworks including SOC 2 and ISO 27001, the company said.
Andy Hornegold, Chief Security Technologist at Intruder, outlined the rationale for adding web application testing to the product line.
“Our mission at Intruder has always been to make robust cybersecurity accessible to everyone,” said Andy Hornegold, Chief Security Technologist at Intruder. “Providing web application testing marks an exciting step on that journey. By delivering the depth of a pentest on demand and at a fraction of the price, we’re helping businesses keep up with an accelerating threat environment.”
Founded in 2015 by former ethical hacker Chris Wallis, Intruder says it now protects more than 3,000 companies worldwide. Its platform combines attack surface monitoring, cloud security, vulnerability management, and now AI-led penetration testing.
Human comparison
Intruder framed the product as a way to replicate some elements of manual security testing without the scheduling delays and fees associated with consultant-led work. Traditional pentests often take weeks or months to arrange and complete, while Intruder says its automated version can begin in minutes and finish in hours, depending on the complexity of the application.
Chris Wallis, Chief Executive Officer and Founder at Intruder, said the economics of traditional testing no longer fit the current security environment.
“Historically, the cost of a pentest has been very high and has taken a long time,” said Chris Wallis, Chief Executive Officer and Founder at Intruder. “In today’s accelerated threat environment, that timeline and cost don’t hold up. We’re ensuring that resource-constrained small and medium-sized businesses aren’t excluded from good security purely based on budget.”
One customer, Yembo, said the product is being used to narrow the gap between periodic human-led assessments. The company, which develops an AI platform, said annual reviews can leave systems exposed between tests.
“Securing a global AI platform requires continuous defence,” said Zach Rattner, Chief Technology Officer and Co-Founder at Yembo. “While Yembo continues to leverage human pentesters, annual assessments alone leave dangerous windows of exposure. Intruder’s AI pentesting bridges that gap by delivering human-grade depth at machine speed to keep our platform permanently hardened.”
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