Marshmallow Partners with Evolution Funding to Improve Car Finance Access for UK Newcomers

Marshmallow and Evolution Forge Alliance to Unlock Motor Finance for UK Newcomers

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Marshmallow the Insurtech celebrated for reshaping motor insurance, has announced its first foray beyond its original domain through an exclusive partnership with evolution funding. Together, the two firms aim to dismantle the entrenched in the UK from accessing secured motor finance.

This strategic alliance represents marshmallow’s inaugural expansion since its US$90 million capital raise in April 2025 and underscores the company’s ambition to evolve into a holistic financial services provider. By leveraging evolution’s formidable dealer distribution platform and live market data, Marshmallow will deploy its bespoke risk assessment models tailored to those without conventional UK credit footprints. The collaboration promises to address a glaring market gap, where fewer than one in ten of Marshmallow’s new UK customers previously secured car finance for their most recent purchase, compared with significantly higher access among UK-born drivers.

For Oliver Kent-Braham, Marshmallow’s co-founder and co-CEO, the initiative transcends mere commercial expansion. He frames it as both an economic and social imperative, noting that while nearly one in five UK adults hail from overseas, they remain disproportionately excluded from fair financial services. He draws attention to the broader national stakes, highlighting that migration is indispensable to the UK economy, with international workers comprising nearly a third of NHS nurses.

Evolution Funding, meanwhile, brings scale and infrastructure. In 2024, its platform facilitated financing for nearly 113,000 vehicles through a network of 5,000 dealers, advancing £3.1 billion. CEO Lee Streets lauds the partnership as a seamless fit within Evolution’s platform model, one that enhances dealers’ ability to serve customers with complex credit profiles.

Ultimately, the collaboration exemplifies how data-driven innovation and distribution scale can converge to foster inclusivity, granting hardworking newcomers the financial foothold essential to thrive in their adopted homeland.