Carmoola, the British fintech darling making waves with its “buy now, finance smarter” car buying model, just scored a game-changing £300 million debt facility from NatWest and Chenavari Investment Managers. And yes – it might just kill old-school car finance.
In what’s being called one of the most significant debt deals in UK consumer fintech this year, Carmoola has locked in a private ABS (asset-backed securities) facility that will triple its lending power. Translation? More Brits will be able to finance their dream cars – without stepping foot inside a dealership office or dealing with outdated broker fees.
So, what’s Carmoola actually doing?
Imagine Klarna meets Autotrader. Carmoola flips the car finance process on its head. Instead of applying for finance after choosing a car, users get pre-approved before shopping. Everything is done via app – no brokers, no jargon, no paperwork, just transparent deals and instant approval.
Founded in 2021 by Aidan Rushby, Amy McKechnie, and Ukrainian co-founders, Roman Sumnikov and Igor Gordiichuk — Carmoola launched its app in March 2022 and is headquartered in London, UK. The company was built on the belief that the traditional car finance model is broken—cluttered with inefficiencies, hidden costs, and outdated systems.
Backed by top-tier investors including VC firms VentureFriends, BCI, and QED Investors, Carmoola has raised a total of £153 million across equity and debt prior to this deal. The latest £300M facility from NatWest and Chenavari brings its total funding capacity to over £450 million. While Carmoola hasn’t disclosed its exact valuation, industry insiders suggest it’s approaching unicorn potential as the business scales.
As per the company’s latest update, it is doubling its customer base year-on-year, and with this fresh £300M firepower, it’s poised to accelerate even faster.
‘Finance-First’ = Freedom for car buyers
Founder and CEO Aidan Rushby, a serial entrepreneur who previously founded home rental app Movebubble, says this is about giving power back to consumers: “We’ve made car finance simple, fast and affordable. Now we’re ready to take it mainstream. This isn’t just funding – it’s a revolution.”
By securing financing before they shop, buyers know exactly what they can afford—making the experience feel more like buying a phone than navigating a mortgage. “This deal reflects real institutional belief,” said Frédéric de Benoist, Carmoola’s Director of Capital Markets. “It replaces early-stage debt with a cost-effective, scalable structure ready to power our next phase of growth.”
What’s next for Carmoola?
With this £300 million facility secured, Carmoola is gearing up for aggressive nationwide expansion. The fintech plans to make car finance more affordable and accessible to a broader segment of UK consumers by offering better rates and a seamless, mobile-first user experience.
It also marks a shift toward long-term institutional capital, signalling maturity in the platform and opening doors to future capital markets opportunities, both private and public.
Carmoola’s clear vision and execution could make it one of the UK’s next breakout fintechs, as it redefines how younger generations shop for—and finance—their cars.
