Carmoola

Carmoola is a British-Ukrainian fintech founded in 2021 that provides used-car finance in the United Kingdom through a mobile app. The company's business centres on consumer lending: customers check eligibility, receive a car finance budget, and pay for a car at the dealership, with the full process completed in under 10 minutes and without paperwork or sales calls. Its lending decisions rest on proprietary credit and affordability algorithms informed by open banking data analysis.

Working in regulated consumer credit, Carmoola's operations depend on the design and governance of the credit and affordability models that assess borrowers, together with the handling of open banking data used to inform those assessments. The stated approach emphasises fairness, transparency, and giving drivers control over the car-buying journey. The company describes itself as having been founded out of frustration with traditional lending.

The Carmoola mobile app is accepted at more than 9,000 dealerships across the UK. The company has raised over £430m in funding and reports a team combining expertise in lending, technology, and customer experience, with British-Ukrainian roots and an international dimension to its workforce. Technical work spans mobile app development, lending technology, and customer experience design as well as the credit modelling and data analysis underpinning its loan process.