Carmoola secures $381m to expand UK car finance offering

By Vriti Gothi

Carmoola, the UK-based FinTech, has received a $381 million private asset-backed securities (ABS) facility in partnership with NatWest and Chenavari Investment Managers.

This triples Carmoola’s previous debt capacity and strengthens its ability to deliver simple, affordable, and accessible car finance directly to consumers across the UK.

Carmoola’s direct-to-consumer model removes traditional intermediaries, empowering buyers to arrange financing upfront through a seamless digital experience. By placing finance at the start of the car-buying journey, Carmoola enables customers to secure the best deals and take full control of their purchase.

The company’s rapid growth highlights strong demand for its ‘finance-first’ approach, with customer numbers doubling year-on-year as more drivers opt for a transparent, flexible alternative to conventional car finance.

The new three-year facility supports Carmoola’s ambition to expand its reach to broader segments of the market while enhancing value for existing customers through competitive rates and a streamlined digital process.

Aidan Rushby, Founder and CEO of Carmoola, said, “This partnership is a major milestone for Carmoola and a clear validation of our mission. By securing this facility, we can extend the benefits of our fair, fast, and transparent finance to even more car buyers across the UK.”

George Ross, Managing Director and Head of Speciality Finance and FinTech at NatWest, said, “We are pleased to deepen our support for Carmoola with this new facility and associated hedging at such an important stage of their growth. This partnership reflects our confidence in Carmoola’s innovative model and our shared commitment to scaling sustainable, customer-centric lending solutions.”

Loic Fery, CEO & Co-CIO at Chenavari Investment Managers, said, “This $381 million facility underlines our confidence in Carmoola’s scalable direct-to-consumer model and its potential to reshape the UK car finance market. The funding structure is designed to support near-term growth and enable future expansion, a strategy we have successfully pursued with leading FinTechs across Europe. We look forward to building a long-term partnership with Carmoola.”