Fairlo leads the way with B Corp certification
Fairlo hopes to lead the way for other Swedish 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.
B Corp is a certification system that determines a company’s impact on society, people and planet. Through a rigorous process it evaluates six impact categories, from community to governance, and determines whether a company has more positive impact on our lives than negative.
Jimmy Hanna, CEO and founder of Fairlo:
“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"
See our assessment in detail here.
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 license 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:
“Our proven track record in Sweden, our 4.7 Trustpilot score, our FCA license 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”.
About Fairlo
Fairlo is a fintech driven by a strong culture rooted in the idea of a more fair and more sustainable life-happens buffer, an alternative to credit cards, expensive loans and buy-now-pay-later. Fairlo was launched in Sweden in 2018 and received its FCA license in the UK last year. The fair lending philosophy now enjoys a 4.7 score on Trustpilot from almost 4,000 reviews, 90% of which are five star reviews. 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.
www.fairlo.co.uk
About B Corp
B Lab is a non-profit organization that was founded in 2006 in Berwyn, Pennsylvania. B Lab created the B Corp certification for for-profit organizations. The "B" stands for beneficial and indicates that the certified organizations voluntarily meet certain standards of transparency, accountability, sustainability, and performance, with an aim to create value for society, not just for traditional stakeholders such as the shareholders.
https://www.bcorporation.net/
Contact
Zeke Tastas
Head of Marketing and Communication
zeke.tastas@fairlo.se
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