British fintech Lendable, valued at £3.5bn, announced plans to expand aggressively in the United States following a profit jump of 120% last year. The AI‑driven lender originated more new personal loans than any UK bank and ranked second for credit‑card issuances, outpacing institutions with trillion‑pound balance sheets, according to Experian data.

Revenue climbed 90% to £446 million, while profit rose to £11 million. Lendable, which does not take deposits, originates and services loans for institutional investors, charging a platform fee while investors collect interest. Backed by Goldman Sachs, Balderton and Passion Capital, its 2022 funding round raised £210 million, but the firm has not sought fresh capital amid a sector‑wide valuation slump.

The company will funnel its earnings into scaling a modest US operation launched in 2021 and into a launch in Mexico. By targeting prime and near‑prime borrowers often rejected by traditional banks, Lendable hopes its credit‑card and personal‑loan products will resonate with American consumers more readily than broader neobank offerings.