Clay Technologies (Clay), a platform enabling tech-enabled businesses to establish and fund branded lending programs, and Pepper Advantage, a global credit management and technology company, have introduced Kravings, the United Kingdom’s first personal loan mobile application.
This new app facilitates access to loans ranging from £1,000 to £25,000 for significant life expenditures such as weddings, holidays, IVF treatments, new cars, or orthodontic procedures. Kravings offers a secure, end-to-end lending experience, allowing users to check eligibility, apply for, access, and manage loans entirely through a single mobile platform.
The development of Kravings, which moved from concept to a live trial in weeks, stems from a strategic joint venture between Clay and Pepper Advantage. The partnership leveraged an AI-driven technology stack that enables financial and non-financial businesses to launch fully compliant credit products. This stack integrates Clay’s Brandable Credit™ APIs and origination technology with PRISM, Pepper Advantage’s proprietary credit management platform. Kravings is the inaugural product launched through this joint offering, with all associated loans directly managed by Pepper Advantage.
Since its beta launch in July, Kravings has received a strong market response, recording over £50 million in applications. The majority of these applications originate from prime and near-prime borrowers seeking financing for meaningful life events, distinguishing itself from smaller impulse purchases often targeted by Buy Now, Pay Later (BNPL) services.
David Yalland, Founder and CEO of Clay Technologies, commented on the new offering, stating, “Too many lenders dress up predatory pricing as inclusion. Kravings is simple: fair rates for people who plan, save and borrow for things that matter. The market response has been exceptional — a clear sign that responsible borrowers want a product that matches their aspirations and life goals.”
Fraser Gemmell, Group CEO of Pepper Advantage, added, “Clay flips the script on retail credit. It uses technology to improve credit access by increasing the speed with which new lenders can enter the market – making it a matter of weeks instead of years. We are delivering the fast, flexible, and secure financial solutions that younger generations demand, providing a lending platform fit for the digital age.”
Clay Technologies specializes in empowering tech-enabled businesses to launch and fund their own branded lending programs. It provides a comprehensive lending stack and debt line via a single platform and API, managing origination, underwriting, compliance, and servicing within the partner’s application.
Pepper Advantage is an international credit management and technology firm operating across Asia, Europe, and the United Kingdom. With $55 billion (USD) in assets under management, the company serves various asset classes, including residential and commercial mortgages, real estate, SME loans, and consumer credit, assisting investors, financial institutions, and fintechs in managing credit portfolios.
