Alltruysm aims to transform the vehicle finance market by allowing customers to leverage the untapped equity in their existing assets to access interest‑free finance.
The model is designed to deliver better value and greater affordability compared with traditional lending products, subject to individual customer circumstances.
Given the permissions sought and the regulatory history of the motor finance sector, the FCA sets a particularly high threshold for new lenders entering the market.
Following initial FCA feedback, the Gateley Legal team worked closely with Founder Adam Kadu and the wider Alltruysm team to strengthen and enhance the application.
Support included a comprehensive review of the customer agreement and finance calculations, the upgrade of the FCA application pack, updates to the Regulatory Business Plan and responsible lending framework, revised product documentation, a refreshed governance structure, and a fully documented price‑and‑value methodology supported by product development evidence.
Following resubmission, Alltruysm LTD has now been authorised by the FCA.
Gemma Murphy-Punzo, corporate legal director at Gateley Legal, added: “This milestone marks an exciting new chapter for the business. Supporting Alltruysm through such a rigorous FCA process has been incredibly rewarding.
“Their innovative approach to vehicle finance brings something genuinely new to the market. It’s been a pleasure working alongside Adam and the team to help bring that vision to life.”
