Fintech unicorn Marshmallow expands migrant support with motor finance
Leading UK fintech, Marshmallow, today announced an exclusive partnership with Evolution Funding to bring motor finance access to newcomers and migrants in the UK. The partnership marks the first key strategic development outside of motor insurance since its $90m fundraise in April 2025, aimed at enabling the business to expand its product suite and offering.
Marshmallow takes a uniquely sophisticated approach to risk and pricing, recognising that newcomers to the UK often lack the traditional credit footprint required by mainstream finance providers.
This collaboration is a step further in achieving Marshmallow’s mission of becoming a one-stop-financial-shop for newcomers so they feel as though it’s easy to move to, and live in, a different country. Supported by Evolution’s distribution platform and extensive market insights, this underserved customer group can now benefit from fairer, more accessible motor finance, allowing them to purchase vehicles through dealer networks with confidence.
By integrating with Evolution’s diverse platform, Marshmallow is able to combine its proprietary technology and customer data with Evolution’s scale, ecosystem connectivity, and data-driven insights. Evolution’s analysis of live application and proposal data was instrumental in helping Marshmallow evaluate the opportunity, ensuring that underserved customers can be funded responsibly and sustainably. This partnership will enable dealers to fund deals for customers who would typically be declined by traditional lenders, opening up new opportunities for both consumers and the dealer community.
Oliver Kent-Braham, co-founder and co-CEO of Marshmallow, commented: “Despite almost one in five UK adults born outside the UK, many are still locked out of fair financial services, creating barriers that make it harder for newcomers to settle and take part in everyday life. Motor finance is a natural next step for us, with our own data showing that fewer than 1 in 10 of our New to the UK customers accessed secured car finance for their most recent car purchase, far below the equivalent rate for those born in the UK.
But this isn’t just a personal frustration for newcomers, it’s a national, socio-economic issue too. With around a third of NHS nurses from outside the UK, for example, migration is reshaping the fabric of the UK and underpinning our critical services. This collaboration is one step in ensuring that these hardworking individuals are supported with access to financial services that allow them to thrive.”
Lee Streets, CEO at Evolution Funding, said: “We’re proud to welcome Marshmallow to our lender panel. Their innovative approach aligns perfectly with our platform model. Importantly, it was our analysis and intelligence that helped shape this opportunity, proving the scale of the unmet need and ensuring we can deliver inclusive solutions responsibly. By combining Marshmallow’s unique credit models with our distribution, insight, and lender diversity, dealers now have an even greater ability to serve customers with complex credit profiles.”
This announcement adds Marshmallow to Evolution’s platform, which connects thousands of dealers with lenders and partners to deliver innovative solutions at scale. Together, the businesses are bringing a new level of inclusivity to the UK’s largest used motor finance marketplace.