Press releases

UK FINTECH LOQBOX DISRUPTS AMERICA’S CREDIT BUILDERS

Sep 30, 2020


Multi-award winning UK Fintech LOQBOX today announces the launch of the only free credit building solution (irrespective of where they bank) across 40 states of America. From today, 80% of Americans now have

the chance to build their credit score while they save money without it costing them anything.


UK based LOQBOX was started in 2017 by Tom Eyre and Gregor Mowat. In 2012, when Tom’s little sister

was refused credit to buy a sofa, frustration with the inflexibility of the credit-scoring system drove him to

start creating solutions to help people build their credit history to access fairly priced credit. As a former partner with global audit and advisory firm KPMG, Gregor has seen first-hand how many people are excluded

from accessing fairly priced credit either because they are young with little or no credit history, or because

they have made past credit mistakes.


Financial exclusion is a major problem globally with billions of people unable to access standard financial

services. For many, this is a difficult situation because if they’ve never had credit they can’t build a credit history. The consequence is that many turn to expensive sub-prime lenders and succumb to a spiral of debt.

LOQBOX wants to change that.


CEO of LOQBOX U.S. Brent Matson said: “We have been working hard over the last year to bring this exciting development to the United States. We believe people should have the opportunity to build their credit

score and achieve their goals, but without paying for it. Currently, it can cost US consumers between $50

and $150 to build their credit scores - our solution is free”.


He continued: “We are absolutely thrilled to be opening the virtual doors to the United States today. We

want to give anyone who may have been declined credit an actionable next step and the opportunity to take

control of their financial future and wellbeing.”


LOQBOX reports credit repayments to the main credit reference agencies and aims to help as many people

as possible achieve their goals, most of which cost money. For many, their goals are unachievable because

they have not had an opportunity to build a positive financial profile, they don’t have sufficient savings or they

don’t understand how to make the financial system work for them. LOQBOX UK has already enabled hundreds of thousands of people to master their money while they save and build their credit score.


Co-Founder and Group Co-CEO Tom Eyre commented: “LOQBOX works best for people early in their

financial life or for anyone trying to improve their relationship with money. When they have finished their

journey, LOQBOX customers have a better credit score, a nest egg of savings and the ability to achieve their

goals. Ultimately, LOQBOX helps everyone to get the things they want without money getting in the way. For

us to share this with our friends in America is truly exciting”.


In the UK, LOQBOX is also committed to education and coaching. A personalised financial plan is available

to every customer which includes tailored tips to help live a healthier financial life. The plans are generated

using the information provided by customers during sign up to help empower customers. This extra functionality is due to launch in the U.S soon.

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Katy Ringsdore - Head of Media Relations

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