Oakam

Founded in 2006, Oakam was a financial technology company that aimed to provide accessible credit to individuals with limited or no credit history in the UK. The company utilized mobile technology and alternative data for its lending decisions, offering small, short-term loans through a mobile app and a network of high-street stores. Its mission was to promote financial inclusion for those overlooked by mainstream banks. However, following a surge in customer complaints and affordability claims, the company ceased lending and was placed into administration in February 2021.