Manchester-based fintech Zuto today announced that it has been awarded B Corp status, joining a growing movement of companies that are using business as a force for good.
Zuto joins a line-up of over 4,000 Certified B Corporations across the globe, including Patagonia, Innocent and We Transfer, each redefining what success means for businesses.
Becoming a B Corp follows a period of exceptional growth for Zuto - the fintech is currently achieving over 50% revenue growth year on year.
The B Corp certification aligns perfectly with Zuto’s passion to change the car finance industry for the better. The company plans to hire 150 new team members to support its vision to help achieve better things.
Why be a B Corp?
Zuto’s B Corp status underpins its purpose to bring transparency to the car finance industry - which is traditionally viewed with mistrust by customers.
Alongside changing the industry for the better, Zuto is focused on creating a great environment for employees by fostering a culture of equality and sustainability. 43% of Zuto’s management team identify as women – more than double the average number of female executives at other fintech firms (19%).
Zuto is also hugely committed to giving back to its local community, and in 2021 launched the Zuto Make A Difference Fund with Forever Manchester – supporting grassroots community groups across Greater Manchester.
More transparency for customers
At its core, Zuto is passionate about bringing market leading technology to the industry, to make the car finance experience as transparent as possible for customers. It aims to eliminate any confusion surrounding whether a customer is actually approved for finance, what APR they will be offered, how much they can borrow, or which selection of lenders customers will be offered.
The platform connects customers with the best lender for their circumstances in seconds and uses extensive customer data to return an APR and monthly repayment, with an upfront approval before the customer applies. Integrating seamlessly with lenders in this way enables Zuto to deliver a faster, customer-first experience.
James Wilkinson, CEO at Zuto said: “Becoming a B Corp is the single proudest thing that has happened at Zuto. We are honoured to join the growing number of businesses that acknowledge a higher purpose, beyond just growth and profitability. Since the very start of our journey, we have been on a mission to change things for the better – not only for our customers, but also for our local community, our Zutonites, and the planet.”
“This comes at an exciting time for us as a business, as we go through a period of exponential growth and remain laser focussed on turning our purpose into a reality. We are expanding our Manchester headquarters and are on the lookout for like-minded individuals and people looking to make a real difference.”
The process of becoming B Corp certified is conducted via the B Impact assessment – which involves a series of stringent assessments on every aspect of a business’ social and environmental performance – from renewable energy sources to diversity & inclusion (D&I).