Abound, a London-based fintech company, has reported a remarkable 25-fold increase in net profits, reaching £7.5 million for the year ending February 2025, up from £300,000 the previous year. This dramatic surge in profitability is attributed to the rapid growth and widespread adoption of its AI-driven lending platform, Render, which analyzes borrowers’ bank transactions to assess repayment ability more accurately than traditional credit scoring methods.
AI-Powered Lending Revolutionizes Credit Assessment
Founded in 2020 by Michelle He and CEO Gerald Chappell, Abound has positioned itself as a pioneer in AI-powered consumer lending. The company’s technology evaluates affordability by analyzing income, spending habits, and financial obligations directly from users’ bank accounts. This approach enables Abound to offer competitive personal loans to a segment of the population that may be overlooked or underserved by traditional credit systems. The platform is praised for increasing access to credit while maintaining responsible lending practices.
Strategic Partnerships and Expansion
Since its inception, Abound has issued over £900 million in loans and secured a total of £1.6 billion in debt funding from major financial institutions, including Citi and Deutsche Bank. In addition to providing direct loans, Abound licenses its proprietary AI platform, Render, to other European financial institutions. This licensing strategy has broadened the company’s revenue streams and allowed it to play a central role in the modernization of lending infrastructures across Europe. As demand for flexible and inclusive financial services grows, Abound’s model is proving both scalable and impactful.
Finnish Keno: A Popular Lottery Game
While fintech innovation shapes the future of lending, traditional games of chance like Keno continue to hold their popularity, especially in Finland. Keno is one of the country’s most loved lottery games, offering players the thrill of multiple daily draws and a wide range of prize levels. The game allows participants to select numbers and potentially win significant sums based on how many they match. For those seeking accurate draw information and strategic tips, https://jokerilotto.fi/ is a trusted destination. The site offers real-time updates, historical data, and everything Keno fans need to stay informed and enjoy the game responsibly.
Future Outlook
As the financial services industry continues to embrace digital transformation, Abound is well-positioned to lead with its AI-first approach. With further expansion on the horizon and strong backing from global investors, the company is expected to continue challenging legacy lending systems. By combining cutting-edge technology with a mission to democratize credit access, Abound is not only growing rapidly—it is redefining what it means to be a responsible and modern lender.