The problem

Unexpected expenses are a huge problem for nearly half of us – approximately 40% of the country has under £100 in savings. This means no backup plan for when things go wrong.

We don’t think a broken washing machine, emergency trip to the dentist or small car repair should be life-changing… But it can be.

With no safety net in the bank to fall back on, millions of us need to borrow to cover unexpected expenses. Often, the ways people we do that are expensive, confusing, complicated… or all three.

Tens of thousands of people get trapped by the spiral of debt, needing to borrow to cover existing debts that stemmed from something small. How many people do you know trapped in their overdraft, stuck paying off interest on their credit card, or forced to borrow at massive cost from a payday lender?

We want to stop that before it can ever happen – by offering a brand new way to borrow.



… And they happen more often than you think.


You can’t predict unexpected expenses, which is what makes them so tricky. How do you prepare for something if you don’t even know what it’s going to look like?

We’ve spent the past 18 months listening to experts, reading research and talking to people from all walks of life about how unexpected expenses can strike. Here’s what we found:

On average, people experience 1-3 unexpected expenses each year. The average unexpected expense costs between £225-£275

One other thing we found was that people dramatically underestimate how likely they were to get hit by an unexpected expense. We know they happen to us, but we seem to treat them like one-offs and ignore the fact they happen again and again.



We think we have found a solution.

If we can give our members a bit more financial flexibility, we can make them less vulnerable. If we make people less vulnerable, we can help reduce their stress and increase their happiness.
How? Simple.


Take the interest out of borrowing

People think in pounds, not percentages. So do we. We think interest rates make it really difficult to work out how much you’re actually paying for your credit, so we don’t charge it. Less confusion, less stress, more peace of mind.


Make advances available on-demand

No more panicking at the last minute about what you’re going to do. Our advances are available on demand, so when you do need them they’re waiting for you. You’ve got 4 months to repay each of your £250 advances, and after you’ve borrowed, you pay a quarter off each month, along with your monthly fees. The second advance will be available after you repay the first.


Help people to think ahead with their money

Some people have said it’s a bit like ‘renting a safety net’ and others have said its like ‘Netflix for finance’. Our membership lets you relax knowing you’ve got a backup plan for unexpected expenses sorted, so you don’t have to make decisions at the last minute.





Also published on Medium.