(Image: Supplied)
A fintech company that has lent more than £32 million to customers in Scotland has received a King’s Award for Enterprise, becoming the first retail lender to win the accolade in the scheme’s 60-year history.
Salad, founded by Glasgow-born entrepreneur Alan Campbell, was formally presented with the award at a ceremony in Brighton on Friday, October 9. The event was attended by the Lord-Lieutenant of East Sussex, Andrew Blackman.
Alan Campbell Salad Kings Award. (Image: Supplied)
Founded in 2018, the company provides affordable credit to people who may struggle to access mainstream financial services because they have no credit history, a low credit score or an impaired rating.
Based in Brighton and operating across the UK, Salad uses open banking to assess affordability through customers’ real-time financial behaviour rather than relying solely on traditional credit scores.
The business has supported more than 200,000 customers to date, while companies within The Salad Group have lent more than £300 million across the UK.
Campbell launched Salad after identifying what he described as a severe lack of affordable credit for people with impaired credit scores. The group now includes Salad Finance and Salad Technologies, all focused on improving access to credit for underserved consumers.
The King’s Awards for Enterprise are presented annually on the advice of government ministers, recognising outstanding achievements by UK businesses.
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Alan Campbell, founder of Salad, said: "We started Salad because too many people were being turned away by a financial system that didn’t understand them and wasn’t giving them a fair chance.
"We believed there had to be a better way to assess people and make good lending decisions, and we’ve spent the last eight years proving that.
"We’ve now lent to more than 200,000 people who mainstream lenders would not have supported.
"To receive a King’s Award recognising that hard work is a huge honour, and something that I and the whole team at Salad are incredibly proud of."
Craig Pennington, chief executive of Salad, said: "We were incredibly proud to learn earlier this year that we had won a King’s Award, so officially receiving it is a major moment for everyone involved in this business.
"Salad was founded with the ambition to build something truly different, opening access to affordable credit to those not served or underserved by mainstream finance.
"By looking at people differently Salad has successfully leveraged technology to unlock millions of pounds to help people get on with their lives.
"This award reflects the talent, commitment and ambition of everyone who has been a part of that journey."
Andrew Blackman, Lord-Lieutenant of East Sussex, said: "I am delighted to congratulate Salad Money on receiving The King’s Award for Enterprise for Innovation.
"As the United Kingdom’s most prestigious business accolade, The King’s Awards recognise organisations that demonstrate outstanding achievement, make a significant contribution through their work, and showcase the very best of British enterprise.
"My warmest congratulations to everyone at Salad Money on this impressive achievement, of which they should be immensely proud."