Kravings, the UK’s First App Built Just for Personal Loans, Goes Live

Personal loan app is the first new lending service to launch as a result of a joint venture between Pepper Advantage and Clay Technologies

LONDON--(BUSINESS WIRE)--Clay Technologies (Clay), a platform that helps tech-enabled businesses set up and fund branded lending programmes, and Pepper Advantage, a global credit management and technology company, today announced the launch of Kravings, the UK’s first personal loan mobile application.

Kravings allows customers to access loans ranging from £1,000 to £25,000 for important life purchases – from weddings and bucket-list holidays to IVF, new cars, or even orthodontic treatments like Invisalign. The app provides a secure, end-to-end lending experience that lets users check eligibility, apply, access, and manage loans through a single mobile platform, making it the UK’s first full personal lending app.

Kravings moved from concept to live trial in just weeks as a result of a strategic joint venture between Clay and Pepper Advantage. The two companies developed an AI-driven tech stack that allows financial and non-financial businesses to launch fully compliant credit products, combining Clay’s Brandable Credit™ APIs and origination technology with PRISM, Pepper Advantage's proprietary credit management platform. Kravings is the first product launched using this joint offering, with all loans managed directly by Pepper Advantage.

Market reaction has been strong. Since going live in beta in July, Kravings has seen over £50 million in applications, overwhelmingly from prime and near-prime borrowers seeking to finance meaningful life events rather than the smaller impulse purchases that are often the target of BNPL offerings.

David Yalland, Founder and CEO of Clay Technologies, said: “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.”

About Clay Technologies

Clay Technologies empowers tech-enabled businesses to launch and fund their own branded lending programmes, providing a complete lending stack and debt line through a single platform and API. With just a few lines of code, Clay manages origination, underwriting, compliance, and servicing, all within the partner's app.

About Pepper Advantage

Pepper Advantage is an international credit management and technology company that offers a range of services across Asia, Europe, and the United Kingdom. The company, with $55 billion (USD) assets under management, operates in multiple asset classes including residential and commercial mortgages, real estate, SME loans, asset financing and leasing, auto and consumer loans, credit cards, retail finance and BNPL. It helps investors, financial institutions, fintechs, and banks manage their credit portfolios, reducing the cost and complexities of systems and supporting new non-bank lending.

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