Infact raises £4m & secures FCA authorisation to launch 1st real-time credit bureau
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Infact, a challenger Credit Reference Agency, has secured £4 million in seed funding and obtained FCA (Financial Conduct Authority) authorisation to establish the first real-time credit bureau for the digital financial services market. This development positions Infact to modernise credit reporting and drive innovation in credit products, addressing gaps in the current credit reference system.
The £4 million seed funding round was led by us at AlbionVC, with contributions from 13books Capital, Outward VC, Form Ventures, and Portfolio Ventures, along with angel investors from the credit referencing, lending, and fintech industries. The funding will be used to expand Infact’s team, acquire more data from UK lenders, and develop its product suite to support the entire credit lifecycle
Their platform was designed to overcome the limitations of traditional credit reference agencies, which have struggled to adapt to modern consumer credit behaviors. Legacy bureaus often fail to keep up with the increasing consumer preference for lower-value, high-velocity, transactional products. This disconnect hampers the sustainable growth of innovative financial offerings, limiting their potential consumer benefits.
The company offers a solution by accurately reflecting modern credit products and consumer behavior. Through an intuitive API, it allows lenders to report and receive real-time consumer credit risk insights. This helps lenders improve lending performance, enhance profitability, and enables consumers to build or rehabilitate their credit profiles more efficiently and safely.
Infact was founded by Will Mason and Andy Milligan, both of whom have deep industry experience, having previously worked at Runpath, which was acquired by Experian. The founding team also draws from a broad range of credit industry expertise, with team members previously employed by companies like NatWest, TSB, Castlight, Experian, Credit Kudos, Metro Bank, Ratesetter, Laybuy, and Visa.
“Legacy bureaus have done a bad job innovating in their core business and have instead chosen to innovate around the edges. We are excited to build a challenger bureau that supports today’s lenders by treating their consumers as people with rich and varied financial lives. We are excited to enter the next phase of growth and invest in maturing the credit bureau platform and building out the product suite.”
Will Mason, CEO and co-founder of Infact
Since receiving FCA authorisation, Infact has seen significant early traction, with leading UK lenders engaging to contribute data to its credit bureau. The company has also successfully launched its first product, Affordability Engine, which enhances lenders’ ability to assess consumer affordability in real-time.
“From the very first meeting with Will and Andy, it was clear that they have an unparalleled level of know-how. Infact is led by two visionary founders with a clear mission, deep domain expertise, and technical knowledge. We are thrilled to continue supporting them on their journey to become a category leading credit referencing agency globally.”
Jay Wilson, Partner AlbionVC
This funding will enable Infact to scale rapidly and continue innovating in credit reporting, potentially reshaping how lenders assess risk and how consumers manage their credit profiles.
Sky News has more here.
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