Finova acquires AI lendtech Cubit Labs

By Milan Rojan

Finova has acquired AI start-up Cubit Labs as it expands its digital lending capabilities and strengthens its technology platform with artificial intelligence-driven automation. Financial terms of the transaction have not been disclosed.

Max Hayden, Co-Founder, Cubit Labs, said: “From our earliest conversations, it was clear that Finova shared our view of where the market is heading. Brokers play a fundamental role in the UK lending market, and we believe technology should make their lives easier, not more complicated. Joining Finova gives us the scale, reach and platform to bring that vision to a much larger audience.”

The acquisition has formed part of Finova  strategy to build a connected platform spanning the full lending lifecycle, including origination, decisioning, servicing, data management and AI-powered automation. Cubit Labs has developed AI software designed to streamline intermediary workflows by automating administrative processes such as document handling and regulatory compliance checks for mortgage advisers.

Gareth Richardson, Chief Executive Officer, Finova, said: “Technology has transformed how customers access financial services, yet much of the lending process still relies on manual workflows, duplicated effort and disconnected system. At Finova, our ambition is to fundamentally improve how lending works for lenders, brokers and customers alike.”

Finova has said the acquisition supports its broader ambition to deliver a unified lending platform that combines cloud-based infrastructure with intelligent automation to improve operational efficiency for lenders and intermediaries.

The move has followed continued investment in Finova  leadership team and technology strategy as the company has sought to strengthen its position in the UK mortgage and lending technology market.

The acquisition has reflected growing momentum across the lending sector, where financial institutions have increasingly adopted artificial intelligence to automate manual processes, enhance compliance and improve customer service. As lenders continue to modernise their technology estates, AI-enabled workflow automation has become an important focus for improving productivity while supporting faster and more efficient lending decisions.