Lender alternatives·12 min read·Updated

Outfund alternatives: six lenders for sellers who have outgrown a £500,000 ceiling

By the CapExpand team

Reviewed by Alex Beardsley, Founder · UK commercial finance broker

Facts checked 7 September 2026 · first published 7 September 2026

Read against out.fund, weareuncapped.com (via dated Internet Archive captures), wayflyer.com/gb, youlend.com, iwoca.co.uk, 365finance.co.uk, fleximize.com, Companies House and the FCA EMD agents file.

Outfund is one of the few UK lenders still writing revenue-linked repayments, and its published criteria are the friendliest on this page: six months of trading, about £10,000 a month coming in, £10,000 to £500,000 of funding, repayments as a share of sales or as fixed amounts, no equity taken and no mandatory personal guarantee. That combination is genuinely hard to find, which is why it stays on our panel.

The reason people look past it is usually one of two things. Either the business has grown beyond what Outfund now writes, or someone has read the Companies House record and wants a second option in the file. Both are fair, and this page deals with them in that order.

Six alternatives follow, five of them on our panel. Wayflyer is not, and we say so in its section rather than pretending otherwise. Every figure was read on 7 September 2026 from the lenders' own pages or from filed accounts, and each is subject to the lender's own checks.

Why people look past Outfund

The product moved a long way in about a year. In July 2025 the Outfund site advertised business loans of £25,000 to £10 million, twelve months in business, £25,000 a month of revenue, offers as fast as 24 hours and 700-plus brands funded. In September 2026 it advertises £10,000 to £500,000, six months of trading, £10,000 a month, an offer in three days and 2,000-plus customers. The floor has come down and the ceiling has fallen by a factor of twenty, with no announcement either way. If you borrowed £1m from Outfund in 2024, the same facility is not on the menu now.

The current maximum is not consistent either. The FAQ, homepage and partners page all say £500,000, while the funding page says a tailored offer “from £10k to £300k within 3 days” and the offer-builder slider stops at £300,000. Speed has moved too: the July 2025 claim of offers within 24 hours is now three days on most pages, with “often within a day” on the funding page.

Then the corporate picture, which is public and worth reading before you sign anything. Outfund is a trading name of MTL Financial Ltd (10923992), now part of VVOF Holdings Limited in Ireland alongside Viceversa, the Milan and Dublin embedded-finance platform. Founder Daniel Lipinski resigned as a director on 1 September 2025, two more directors left on 5 August 2025 and James Auty on 14 May 2026, which leaves Nicolas Gonzalez, appointed 5 August 2025, as the only current director. Group accounts to 31 January 2025 show turnover of £6.68m against £7.62m, a loss for the year of £6.98m against £2.14m, average employees down from 38 to 12, and going concern resting on continued parent support and an anticipated group funding round.

Those accounts were filed late. Companies House shows a first Gazette notice for compulsory strike-off on 31 March 2026, suspended on 8 April and discontinued on 18 April 2026, two days after the overdue accounts went in. The company is active with no charges registered, and a discontinued strike-off is a resolved administrative problem rather than an insolvency event. It is still the sort of thing a director signing a £200,000 facility ought to know about the counterparty.

The reviews split rather than settle. Trustpilot showed 3.4 from 43 reviews at our check, with 73% at five stars and 23% at one, which is a profile of people who either got funded quickly or had a problem with payments, and not much in between. The most recent visible review complained of invoices sitting pending. That connects to a mechanic worth understanding: capital lands in an Outfund wallet, not your bank account, with invoice payments processed within two working days and bank transfers available from there. Outfund is an FCA-registered EMD agent (reference 902840, since 31 July 2020) of Modulr FS Limited, which is what allows the wallet and virtual card; it is not a lending permission.

The alternatives at a glance

LenderProductRangeMin tradingMin turnoverRepayment
UncappedFixed-term loans and a line of credit£100,000 to £2,000,000 (product pages say £10,000 to £10,000,000)6 months£100,000 a month (£10,000 for Amazon sellers)Fixed schedule by direct debit, daily, weekly or monthly, up to 24 months
WayflyerNot on our panelCash advance, term loan and rolling financing for ecommerce£5,000 to £20,000,000 (its own FAQ says from £10,000)6 months (2 years for retail and service businesses)£10,000 a monthPercentage of revenue or fixed amounts, daily to monthly, 3 to 9 months
YouLendEmbedded merchant cash advanceUp to £2,000,000 (no minimum published)Not publishedNot publishedPercentage of sales, single fixed fee
iwocaFlexi-Loan credit facility£1,000 to £1,000,000None published (start-ups capped at £10,000)None publishedMonthly; interest per 30 days on the drawn balance
365 FinanceMerchant cash advance£10,000 to £500,0006 months£10,000 a month in card salesTypically 5% to 15% of card sales
FleximizeFlexiloan and Flexiloan Lite term loans£10,000 to £500,000 unsecured (£1,000,000 secured)6 months (Lite) or 12 months£5,000 a monthMonthly; interest recalculated on early settlement

Published criteria as at 7 September 2026; every figure is subject to the lender's own checks. Inclusion is a fact about the market, not an endorsement.

Uncapped

Uncapped is the obvious step up for a brand that has outgrown Outfund's ceiling. Term loans are priced as a fixed fee of 0.7% to 1.5% a month with an average of 1% and no interest rate, run up to 24 months against Outfund's twelve, and are repaid on a schedule you set daily, weekly or monthly. The Line of Credit carries a fixed APR from as low as 10.99%, charges only on what you draw, and repays every fourteen days. No equity, no warrants, no personal guarantees, which matches the part of Outfund people most want to keep.

Its published speed is competitive: a decision in 48 hours on the homepage, funds normally in one to two business days, and offers within 24 hours on the Amazon route. Trustpilot showed 4.6 from 260 reviews at our check.

What it does not substitute is the small seller or the revenue-linked repayment. Uncapped needs £100,000 a month of revenue for fixed term financing (£10,000 a month only if you sell on Amazon), takes limited companies only, and stopped writing revenue-based finance altogether: its own blog says no new RBF deals were underwritten in 2023. The fee is not rebated on early settlement of a term loan. And its group is tightening: audited accounts to 30 April 2025 show a £10.4m loss with the loan book down from £72.7m to £36.4m.

Read our Uncapped review

Wayflyer

Wayflyer matches Outfund almost criterion for criterion at the entry level and then keeps going. It asks for £10,000 or more of monthly sales and six months of trading for ecommerce and software firms (two years for retail and service businesses), sizes typical offers at 1.5 to 3 times monthly revenue, and runs a Cash Advance repaid as a percentage of revenue, a Term Loan repaid in fixed amounts, and Rolling Financing that gives repeat access across a twelve-month contract. There is no personal guarantee and no equity, and money goes straight to the bank account rather than a wallet.

It is also more open about price than most. Its help centre says the fee is typically 5% to 10% of the advance, gives a worked example of a $100,000 advance at 6% repaying $106,000, and says there are no origination, prepayment or late fees. UK collection is by BACS direct debit, a soft credit check is run at application, and it says most businesses receive funds within one to three business days. It has deployed more than $6 billion and agreed a $1.5 billion forward flow with Fortress in July 2026, so the capacity question that hangs over smaller lenders does not arise.

Two caveats. Wayflyer is not on our panel, so we cannot quote it, price it or chase an application; it is here because it is the alternative Outfund applicants most often find. And the terms have edges: the fixed fee is not reduced by repaying early, further advances stack (its help centre gives an example of a 10% and a 15% remittance running together, and says fixed-repayment advances will always be stacked), it does not fund dropshippers or start-ups, and the contracting party in its platform terms is the Irish parent, Wayflyer Limited.

Read our Wayflyer review

YouLend

YouLend gives you the sales-linked repayment without a separate application, because it is already inside the platform you sell through: Amazon in the UK, eBay Seller Capital, Just Eat, Dojo's core business funding, Epos Now, Tide, Lopay, and Teya and Worldline since January 2026. Repayment is a percentage of each day's sales against a single fixed fee, no minimum advance is published, and the maximum is £2 million. Approval is quoted in as little as 24 hours with funds inside 48 hours of approval.

The balance-sheet comparison is stark against a lender whose accounts show a £7m loss. YouLend's FY2025 accounts report revenue of £171.5m and profit of £8.8m, with EQT as ultimate owner through BC Midco Pte. Ltd, and its homepage claims approval for nine in ten applicants and 85% of customers renewing. Trustpilot showed 4.8 from 12,426 reviews at our check.

What it does not substitute is the guarantee-free structure or a published price. Personal guarantees from directors are standard on the advances we arrange, and YouLend publishes no rate card and no repayment percentage on its own site, so the split arrives with the offer. Its settlement account is a condition of financing, so processor payouts route through a YouLend account until the advance clears, and partner pages put the maximum term at twelve months.

Read our YouLend review

iwoca

iwoca is the alternative for a seller who wants the cost to fall when the money goes back. The Flexi-Loan is a limit of £1,000 to £1,000,000 held for anything from one day to five years, with interest charged per 30 days on the drawn balance from 1.5% a month (published range 1.5% to 5.7%) and no early repayment fee. A fixed facility fee, whether Outfund's 6.8% or Wayflyer's 5% to 10%, is the same whether you clear it in month three or month nine. iwoca's is not.

It is a much larger and steadier counterparty than a £6.7m-turnover lender. iwoca lent £1.3 billion across 58,000 loans in 2025, up 60% on 2024, has funded over 100,000 businesses, closed a £250m funding structure with a UK bank and Waterfall Asset Management in July 2026, and holds 4.7 on Trustpilot from over 11,000 reviews. Decisions come inside 24 hours in almost all cases with money in hours; its record payout is 2 minutes 37 seconds.

What it does not substitute is the guarantee and the sales-linked repayment. iwoca requires a personal guarantee from at least one company director and says so plainly, which is exactly what Outfund advertises it does not need. Repayments are fixed monthly instalments regardless of a slow month, limits are sized at roughly one month's revenue or about 20% of annual turnover, the rate is variable (though iwoca says it cannot change it without consent), borrowing beyond twelve months typically adds 5% to 6%, and the product pages accept limited companies and LLPs only.

Read our iwoca review

365 Finance

365 Finance matches Outfund's range almost exactly (£10,000 to £500,000, six months of trading, £10,000 a month) and keeps the sales-linked repayment, with the difference that it publishes the split before you apply: typically 5% to 15% of card sales, usually cleared in five to ten months. The bar it applies is card sales rather than total revenue, so this is the swap for a seller whose money arrives through card acquiring.

Two published terms are worth having in writing. The cost is a single all-inclusive figure with no application, admin or late fees, and 365 says there are no additional charges if the advance takes longer to repay, so a soft quarter stretches the payback rather than adding cost. It is a direct lender funded by a £150m Pollen Street Capital facility signed in February 2025, approves over 90% of applications on its own count, runs a soft credit check, and held 4.9 on Trustpilot from 1,135 reviews at our check, from a base 26 times larger than Outfund's.

What it does not substitute is marketplace revenue or the absence of a guarantee. Sizing runs on card takings, so Amazon or marketplace settlements are largely invisible to it, and a personal guarantee is part of the standard package. There is no route below £10,000, the all-inclusive cost does not fall on early settlement, and its unsecured page asks for twelve months of card statements.

Read our 365 Finance review

Fleximize

Fleximize is the answer when the money is for something slower than a stock cycle. Flexiloan Lite runs 3 to 12 months at 1.9% to 3.9% a month from six months of trading, matching Outfund's entry point, and the full Flexiloan runs 12 to 60 months at 0.9% to 2.9% a month from twelve months. Minimum turnover is £5,000 a month, half Outfund's, and loans are sized at up to four months of revenue.

Its Penalty-Free Promise is the strongest early-settlement term on this page: repay in full early and interest is recalculated to the days you held the loan, with early repayers saving an average of 44% of their total interest by Fleximize's own figure. There are no set-up, application or arrangement fees when you apply directly, funds can land the same day as approval once documents are signed, and it won Best Service from a Business Loan Provider at the 2026 Business Moneyfacts Awards. It lent £149m in 2025, £688m cumulative.

What it does not substitute is the repayment that flexes or the light security. Instalments are monthly and fixed. Every loan needs a personal guarantee from at least one director or shareholder, a debenture may be required, and secured lending uses an equitable charge. The rule that ends most applications is the homeowner one: non-homeowners are supported only after 36 months of trading and then to £20,000. Sole traders can apply only above £25,000, and businesses in Scotland or Northern Ireland get unsecured lending only.

Read our Fleximize review

When Outfund is still the right call

For an online seller under £500,000 who wants repayments that move with sales and no guarantee on the director, Outfund is still the cleanest fit on our panel. The criteria are six months of trading and around £10,000 a month of revenue; you choose revenue share or fixed repayments, the term (3, 6, 9 or 12 months) and the security level; equity taken is nil; underwriting runs on read-only Open Banking with a soft credit check only; and a top-up opens once you have repaid a third of the facility. Uncapped needs ten times the revenue, iwoca and Fleximize both want a personal guarantee, and Wayflyer is not something we can arrange.

It is also one of the very few lenders in this market that shows you the arithmetic. Its offer builder prices £150,000 over nine months at a 6.8% facility fee: £10,200 of fee and £160,200 total repayable. Sectors served run well beyond ecommerce, taking in SaaS, retail, hospitality, marketplaces, subscription, wholesale, health and wellness, agencies and professional services, and it connects to Stripe, Shopify, PayPal, Adyen, Google Ads, Meta, TikTok, WooCommerce, Xero and QuickBooks. The PULSE analytics platform comes free with the account.

Three things to have answered before signing, and they are all on our list because Outfund does not publish them. First, the £2,250 gap in its own worked example between the £150,000 headline and the £147,750 of net funding, which is not explained anywhere on the page. Second, whether any security or director's indemnity appears in the contract, given the wording is “no mandatory personal guarantees” rather than none. Third, the early settlement position, which is not stated. Our factor rate and APR guide shows why a 6.8% fee over nine months is not a 6.8% annual cost.

Check the whole panel in one go

Tell us your numbers once and we say which of these lenders your business fits, and which would decline, before anything is submitted. We arrange; the lender decides.

Start an enquiry 0333 041 3127

Frequently asked questions

Its FAQ, homepage and partners page say £10,000 to £500,000, while the funding page and offer builder stop at £300,000, so the site contradicts itself at the top end. In July 2025 the same site advertised £25,000 to £10 million with a £25,000 monthly revenue requirement, so the ceiling has fallen sharply and the entry bar has come down to about £10,000 a month with six months of trading.
Wayflyer publishes up to £20 million for ecommerce brands, YouLend up to £2 million, Uncapped £2 million on its homepage (£10 million on its product pages), iwoca £1 million, and 365 Finance and Fleximize £500,000 each unsecured. What any of them actually offers is a sizing question: Wayflyer quotes 1.5 to 3 times monthly revenue, iwoca around one month’s revenue, and Fleximize up to four months.
Its group accounts to 31 January 2025, filed on 16 April 2026, show turnover of £6.68m, a loss for the year of £6.98m, average employees down from 38 to 12, and going concern dependent on parent support and an anticipated group funding round. Companies House also records a first Gazette strike-off notice on 31 March 2026, discontinued on 18 April 2026 after the overdue accounts were filed. The company is active with no charges registered.
Its funding page says there are no mandatory personal guarantees and no equity given up, while also inviting you to choose a "security level", which leaves room for optional security. Some reviewers report a director’s indemnity in contracts, which we cannot confirm from Outfund’s documents. Ask for the agreement and read the indemnity and security clauses before signing. Wayflyer and Uncapped both state they take no personal guarantees.
Outfund is a trading name of MTL Financial Ltd (company 10923992), which the accounts describe as part of VVOF Holdings Limited, an Irish parent it shares with Viceversa. Founder Daniel Lipinski resigned as a director on 1 September 2025 and Nicolas Gonzalez, appointed 5 August 2025, is the only current director. The footer now reads Milan, Dublin and London.
Outfund appears in the FCA’s EMD agents file as MTL Financial LTD, reference 902840, an EMD agent of Modulr FS Limited since 31 July 2020. That covers the Outfund wallet and virtual card, not the lending. No consumer credit permission was found and the footer states no FRN, so treat the funding itself as unregulated business-to-business credit, as it is with most lenders on this page.
No. Wayflyer is not on our panel, so we cannot quote or progress it, and it is on this page because it is the closest published match to Outfund’s product. Outfund, Uncapped, YouLend, iwoca, 365 Finance and Fleximize are all on our panel.
Wayflyer’s Cash Advance remits a percentage of revenue, YouLend takes a percentage of each day’s sales, and 365 Finance takes typically 5% to 15% of card sales. Uncapped withdrew revenue-based finance and now runs fixed schedules; iwoca and Fleximize both charge fixed monthly instalments. Only Outfund and Wayflyer let you choose between a revenue share and fixed repayments on the same facility.
Outfund quotes an offer in three days, sometimes within a day, with capital available as soon as you accept. Wayflyer quotes a decision in as little as 24 hours and funds within one to three business days; Uncapped a decision in 48 hours and funds in one to two business days; YouLend a 24-hour decision and 48-hour funding; iwoca a decision inside 24 hours with money in hours; 365 Finance funding in as little as 24 hours; and Fleximize decisions in as little as 24 hours with same-day funds on approval.
It is worth reading rather than scoring. The profile held 3.4 from 43 reviews at our check, with 73% at five stars and 23% at one, which describes two different experiences rather than a mediocre average, and the most recent visible review concerned invoices sitting pending in the wallet. Forty-three reviews is a thin base either way; for contrast, YouLend has 12,426, iwoca over 11,000 and 365 Finance 1,135.

Sources and method

Facts on this page were checked against the sources below on 7 September 2026. Where a lender does not publish a figure we say so rather than estimate it.

  1. Outfund: FAQs (£10,000 to £500,000, six months trading, £10k monthly revenue, revenue share or fixed repayments, 3 to 12 month terms, soft credit check, three-day offers, supported countries)
  2. Outfund: funding page (offer builder worked example at a 6.8% fee, £10k to £300k slider, wallet and virtual card, invoice payments in two working days, top-up after a third repaid, no mandatory guarantees, security level)
  3. Outfund: homepage (funding £10k to £500k, 2,000+ customers, £400m deployed, 0% equity, sectors served, integrations)
  4. Outfund: partners page (approved funding £10k to £500k in under three days, commission on the facility fee)
  5. Outfund: homepage as at 19 July 2025 (business loans £25k to £10M, 12+ months in business, £25k+ monthly revenue, offers as fast as 24 hours, 700+ brands)
  6. Companies House: MTL Financial Ltd, 10923992 (officers, filing history, strike-off notice 31 March 2026 discontinued 18 April 2026, group accounts to 31 January 2025)
  7. FCA: EMD agents file (MTL Financial LTD, reference 902840, EMD agent of Modulr FS Limited, effective 31 July 2020)
  8. Trustpilot: Outfund (3.4 from 43 reviews, 7 September 2026)
  9. Uncapped: frequently asked questions (fees 0.7% to 1.5% a month, 24-month maximum, line of credit APR from 10.99%, early repayment, sole traders not eligible; archive capture 8 November 2025)
  10. Uncapped: UK homepage (revenue thresholds, decision in 48 hours, no personal guarantees; archive capture 8 September 2025)
  11. Uncapped: blog post withdrawing revenue-based financing (archive capture 22 June 2025)
  12. Companies House: Uncapped Ltd, 12258266 (group accounts to 30 April 2025)
  13. Wayflyer: GB homepage (£5k to £20m, £10,000 monthly sales, six months trading, 1.5 to 3 times monthly revenue, soft credit check, no personal guarantees, speed claims)
  14. Wayflyer: products (Cash Advance, Term Loan, Rolling Financing, 3 to 9 month horizon, optional security on the term loan)
  15. Wayflyer help centre: fees (typically 5% to 10% of the advance, worked example, no origination or prepayment fees)
  16. Wayflyer help centre: how repayment works (stacked advances, BACS direct debit)
  17. Wayflyer and Fortress announce a $1.5 billion forward flow agreement (30 July 2026)
  18. YouLend: merchants page and FAQs (up to £2,000,000, single fixed fee, 24-hour approval, 48-hour funding, nine in ten approved)
  19. iwoca: Flexi-Loan (£1,000 to £1,000,000, one day to five years, from 1.5% per 30 days, no early repayment fee, 2 minutes 37 seconds)
  20. iwoca closes £250m funding structure with a leading UK bank (27 July 2026; £1.3bn across 58,000 loans in 2025)
  21. 365 Finance: merchant cash advance (£10,000 to £500,000, 5% to 15% of card sales, five to ten months, no additional charges if repayment runs long)
  22. 365 Finance: FAQs (six months trading, £10,000 monthly card sales, soft search, no application, admin or late fees)
  23. Fleximize: Flexiloan and Flexiloan Lite (amounts, terms, monthly rates, personal guarantee, same-day funding)
  24. Fleximize: FAQs (homeowner rule, four months’ revenue sizing, Penalty-Free Promise and 44% saving, sole trader threshold, debenture)

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Important information

CapExpand Ltd (FRN 1060885) is an Appointed Representative of White Rose Finance Group Limited, which is authorised and regulated by the Financial Conduct Authority (FRN 630772). We are a credit broker, not a lender, and we do not provide financial, tax or legal advice. We work with a panel of lenders whose particulars are available on request. If a deal completes the lender pays us a commission, at no cost to you; different lenders pay different amounts under different models, and we will tell you the amount for your deal on request. All lending is subject to status, valuation where applicable and the lender's own checks.

Registered office: Pure Offices, Lake View Drive, Annesley, Nottingham, NG15 0DT. Company No. 14433858.