Koyo was founded in 2018, on the principle that people should be treated fairly when it comes to credit. Most other lenders make decisions based on data from credit scoring agencies which can be months out-of-date. Our goal is to disrupt this archaic way of lending, by offering competitively priced credit through the innovative use of technology. Koyo is the UKs first Open Banking powered lender. Open Banking is the secure way to give lenders or financial providers like us, access to transactional banking data. Our innovative approach enables us to offer competitively priced credit based on borrowers spending habits, rather than what credit scoring agencies say about them. A win-win for all.
Our postal address is: Koyo, Huckletree Soho, Ingestre Court, Ingestre Place, London W1F 0JL
Right in the heart of Soho, London, we’re a small and dynamic team building the UKs fairest lender.
Who we are
The current system of credit, based on bureau data, is deeply unfair, penalising people who live in lower income areas, people who are new to the country or customers who have used high risk products in the past (such as payday loans). Koyo (www.koyoloans.com) was founded in 2018, on the principle that everyone should have access to affordable credit regardless of where they are from, where they live, or types of credit that have used.
Many seeking credit are charged excessive fees and interest rates for borrowing that cause financial problems, rather than solve them. We’re changing all that.
Koyo uses innovative technology to offer fairly priced credit to millions of UK customers. We’re based in London, with global ambitions. Koyo is backed by leading venture capital funds (the same funds that backed the likes of Revolut, Transferwise and others) and some of the most reputable angel investors in the UK. Join us, and help put an end to predatory financial firms and be part of an exciting and rewarding journey.
Our story so far
In 2016, Thomas, the founder of Koyo moved to the UK and found accessing credit to be difficult if not impossible. This is because his credit history did not follow him from his home country. He realised that having an imperfect credit history affects millions of people who are new to the country, but also people who have failed to build a credit history in the UK more generally. We raised our first round of venture funding in September 2018, a seed round in October 2019 and will raise our series A in the first half of 2021.
What you’ll be doing:
We have a small, highly skilled fully remote technical team led by our experienced CTO. You will join this team in developing the early versions of our lending product, our back office systems and credit decisioning engine. You will be given a lot of ownership, responsibility and freedom. Our tech culture is summarised in two tech blog posts at https://blog.koyoloans.com/tech/koyo-technology-cu... and https://blog.koyoloans.com/tech/koyo-technology-cu...
The backend is primarily in Kotlin using Spring Boot and exposes a REST/JSON API. We use Google pub/sub for async messaging. The front end is a React/Redux webapp.
On the infrastructure side, we are using Docker orchestrated with Kubernetes on GCP. Terraform is used to define the infrastructure as code. Source code and CI/CD is with GitLab. Gitlab is also used to manage the backlog and our light-weight Kanban process.