Wollit is a technology company.
Wollit has raised $1.0M across 1 funding round.
Wollit has raised $1.0M in total across 1 funding round.
Wollit has raised $1.0M in total across 1 funding round.
Wollit's investors include Rokk3r Labs.
Wollit is a London-based fintech startup offering a credit-building app that helps users improve their credit scores through a subscription-based service reporting payments as loan repayments to agencies like Experian and TransUnion[1][2][7]. Its core product, Wollit Credit Builder, is a 12-month plan costing £9.99 monthly (total £119.88 upfront as an interest-free loan), targeting individuals with poor credit histories, especially freelancers and gig workers[1][7]. The company serves consumers seeking better access to lending and financial services, solving the problem of thin or damaged credit files by providing a low-risk way to build credit history, with around 10,000 monthly subscribers and 600% revenue growth reported in the prior year[1].
Originally focused on income top-ups for gig workers, Wollit pivoted during COVID-19 to this high-demand credit builder due to rising interest rates and customer preferences, positioning it for expansion into lending and savings[1].
Wollit Ltd was incorporated on March 23, 2017, as a private limited company providing other information technology services, with its registered office at 35 Ballards Lane, London[4]. Founded by Liad Shababo, the company initially launched in 2019 as a financial top-up service to stabilize incomes for freelancers and gig workers, backed by Spain’s second-largest bank[1]. The idea emerged to address irregular earnings in the gig economy, but during the COVID-19 pandemic, Shababo pivoted amid rising interest rates that risked customer defaults, shifting focus to credit-building after high demand for that side product[1]. Early traction came from this reinvention, leading to rapid subscriber growth and plans for a £8M Series A round discussed with existing investors[1].
Wollit rides the rising trend of credit-building fintechs, fueled by consumer demand for accessible financial tools amid economic uncertainty, high interest rates, and gig economy growth[1]. Timing is ideal post-COVID, as pivots like Wollit's tap into "high demand" for non-traditional credit improvement, countering market forces like debt risks for irregular earners[1]. It influences the UK fintech ecosystem by democratizing credit access—reporting to major agencies helps thin-file users qualify for loans, potentially expanding into embedded finance[1][7]. As a backed startup eyeing Series A, it exemplifies resilient fintechs blending software with regulated services (SIC 62090), contributing to London's fintech hub amid broader open banking adoption[1][4].
Wollit is poised for acceleration with its planned £8M Series A, leveraging 10,000 subscribers and high-margin growth to launch lending, savings, and expanded toolkit features via its credit license[1]. Trends like open banking, AI-driven credit scoring, and gig worker financial inclusion will shape its path, amplifying its role in underserved markets. Its influence may evolve from niche credit builder to full-service fintech, much like early pivots that defined category leaders—watch for product launches and funding closure to confirm momentum. This positions Wollit as a smart bet in credit health innovation.
Wollit has raised $1.0M across 1 funding round. Most recently, it raised $1.0M Seed in February 2020.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Feb 1, 2020 | $1.0M Seed | Rokk3r Labs |