Evolution Money is a UK-based specialist lender, offering access to affordable credit for customers that may be excluded from borrowing from mainstream lenders due to adverse credit factors or complex financial circumstances.

Launched in 2011 and based in Manchester, Evolution Money has seen significant growth, with total lending of over £500m since its inception. The company offers bespoke second and third lien lending solutions, performing a holistic assessment of a customer’s personal and financial circumstances, beyond just a credit score. 

Evolution Money is a Certified B Corporation, demonstrating the company’s high social and environmental performance. 

Following the £200m refinancing of Evolution Money’s private securitisation warehouse in 2024, NatWest has been working closely with them to develop their inaugural Social Financing Framework, which now enables them to issue ICMA1- and LMA2-aligned social bonds and loans, as well as providing the backdrop against which the existing warehouse can be identified as a ‘social warehouse’ – this marks NatWest's first social asset-backed loan to a financial institution customer. 

The Framework achieved a positive Second Party Opinion from Sustainable Fitch, who confirmed alignment of the framework with the ICMA’s Social Bond Principles and the LMA’s Social Loan Principles. Sustainable Fitch noted a positive assessment of the intended use of proceeds, with Evolution Money’s debt consolidation solutions helping to improve their customers’ financial stability and credit profile, with 72.5% experiencing an increase in their credit score within two months of loan origination. Developing the Framework and engaging with Sustainable Fitch has also strengthened Evolution Money’s internal policies, governance, and capabilities to report on its impact towards driving financial inclusion for customers.

Steve Brilus, CEO, Evolution Money: “I am delighted and very proud to have received a positive Second Party Opinion concluding a ‘Good’ alignment in relation to the ICMA’s Social Bond and LMA’s Social Loan Principles. Our inaugural Social Financing Framework articulates our approach to responsible lending and how, by delivering on our purpose, Evolution Money directly supports financial inclusion at a time when access to non-standard finance is extremely limited. Building upon our existing ESG credentials, our BCorp3 accreditation, our team diversity and our culture, this external verification is a reflection of the hard work and dedication every member of Evolution Money puts in day in, day out, to deliver great customer outcomes. Thank you to our longstanding partners at NatWest, whose support over the years and specifically on this project has been invaluable and very much appreciated.”

Sue Harrison, Head of ESG, Evolution Money: “The process of developing Evolution Money’s Social Financing Framework and the subsequent positive Second Party Opinion by Sustainable Fitch has allowed us to evidence empirically how Evolution Money delivers on its purpose of creating financial inclusion. This in turn underlines our ESG credentials, demonstrating that personal lending can be a force for good, creating positive social outcomes.”

Daniella Siretz, Managing Director, Securitised Products Structuring, NatWest: “We are delighted to have supported Evolution Money in articulating – and receiving external verification of – their social lending proposition. The process had a number of twists and turns along the way and could not have been achieved without the close collaboration of multiple specialist teams within the bank, helping to deliver a great outcome for our customer.”

Vishal Saxena, CFA, Vice President, Climate & ESG Capital Markets, NatWest: “This innovative solution enables Evolution Money to accelerate and deepen its financial inclusion outcomes through its inaugural Social Financing Framework. This also marks a milestone for the UK speciality finance sector, as well as for NatWest, with this being our first social asset backed loan to a financial institution customer. We look forward to continuing to support Evolution Money and other customers develop their social financing strategies.”

1: ICMA: International Capital Market Association

2: LMA: Loan Market Association

3: BCorp: companies verified by B Lab to meet high standards of social and environmental performance, transparency and accountability.