Global law firm Ashurst Global law firm Ashurst Perkins Coie has advised UpCredit Limited (UpCredit), the UK subsidiary of Qfin Holdings, Inc., on setting up its UK business and on its application for authorisation from the Financial Conduct Authority (FCA). UpCredit is due to launch its numia proposition in the UK consumer credit market in December 2026.
UpCredit is a London-based fintech business founded in 2024 and the company behind numia, a new digital lending proposition designed to help customers to move forward with confidence. The business combines responsible lending practices and modern technology to deliver personalised lending solutions and a straightforward customer experience.
Ashurst Perkins Coie advised UpCredit throughout its move into the UK market. This covered setting up the business in the UK, preparing and managing its FCA authorisation application, and building the regulatory framework it needs to operate as an FCA-authorised consumer credit firm.
Commenting on the mandate, Lorraine Johnston, financial regulatory partner, said: “We are delighted to have supported UpCredit from its earliest days in the UK through to FCA authorisation. It is a pleasure to help an innovative new entrant get ready to launch in the UK consumer credit market, and we wish the UpCredit team every success in December.”
Russ Talbott, CEO of UpCredit, added: “Securing FCA authorisation is a defining milestone for UpCredit and an important step towards launching numia in the UK market. The Ashurst Perkins Coie team provided clear, practical and commercial advice throughout the process, helping us establish the foundations for long-term success. We’re grateful for their support and excited to introduce a straightforward and transparent proposition that supports better borrowing.”
The Ashurst Perkins Coie team was led by partner Lorraine Johnston and senior associate Hannah Pack, supported by senior associate Joy Yeh, digital economy partner David Futter, corporate partner Gavin Weir and associate Jasmine Fox.
