ClearScore, Modulr, Teya, Urban Jungle and Zilch Join FCA Scale-up Unit

ClearScore, Modulr, Teya, Urban Jungle and Zilch Join FCA Scale-up Unit

(IN BRIEF) The Financial Conduct Authority has welcomed ClearScore, Modulr, Teya, Urban Jungle and Zilch into its Scale-up Unit, which provides tailored regulatory support for fast-growing financial services firms. The firms span payments, consumer finance, credit information and insurtech, and are the first companies regulated solely by the FCA to participate in the unit. The announcement follows a pilot with 15 high-growth firms, which found that early investment in governance, risk management and controls is important for sustainable growth. The Scale-up Unit is part of the FCA’s broader innovation support framework, alongside Innovation Pathways, PASS and Early and High Growth Oversight, and builds on the FCA’s support for more than 1,000 innovative and growing firms since the launch of its innovation services.

(PRESS RELEASE) LONDON, 10-Aug-2026 — /EuropaWire/ — The Financial Conduct Authority has announced that five fast-growing firms have joined its Scale-up Unit, receiving tailored regulatory support to help them innovate, manage rapid growth and scale sustainably.

The companies joining the unit are ClearScore, Modulr, Teya, Urban Jungle and Zilch.

The firms operate across areas including payments, consumer finance, credit information and insurtech.

They are the first firms regulated solely by the FCA to participate in the Scale-up Unit.

The Scale-up Unit provides tailored support to firms as they develop new products, respond to regulatory and policy changes, and address the challenges that can arise during rapid expansion.

The FCA said the initiative is designed to support firms with strong growth potential while helping them navigate regulation with confidence.

The announcement follows a recent pilot involving 15 high-growth firms, with findings published on 10 August 2026.

The pilot showed that early investment in governance, risk management and controls can help firms manage growth-related opportunities and challenges more effectively.

It also highlighted the importance of building sustainable foundations as firms expand.

Jessica Rusu, Chief Data, Information and Innovation Officer at the FCA, said high-growth firms play an important role in supporting economic growth across the United Kingdom.

She said the FCA wants the UK to remain one of the best places in the world to start, grow and scale a financial services business.

Rusu added that the regulator is supporting ambitious firms as they scale by helping them navigate regulation and innovate with confidence.

The first cohort of the Scale-up Unit was announced in February 2026 and included six firms jointly regulated by the FCA and the Prudential Regulation Authority.

Applications for the next group are expected to open soon.

The FCA opened applications for solo-regulated firms to join the Scale-up Unit pilot in May 2026.

Applications closed on 22 June 2026.

ClearScore, Modulr and Zilch are members of the Unicorn Council for UK FinTech, a coalition established by Innovate Finance to bring together UK-based fintech unicorn founders and chief executives with the aim of accelerating growth in the sector.

The Scale-up Unit forms part of the FCA’s wider innovation support framework.

It sits alongside existing programmes including Innovation Pathways, the Pre-Application Support Service, known as PASS, and the Early and High Growth Oversight function.

Together, these services are intended to create a clearer pathway for firms as they progress from start-up to scale-up.

The Early and High Growth Oversight function identifies firms experiencing rapid growth at an earlier stage, including newly authorised firms and those undergoing significant change.

It provides proactive engagement to help such firms navigate key challenges as they expand.

Between July 2025 and March 2026, the FCA engaged with 15 firms across asset management, wealth management and payments as part of an Early and High Growth Oversight pilot.

The pilot was designed to identify rapidly growing firms earlier and support them as they established and developed their businesses.

The FCA assessed whether the firms’ governance, risk management and control frameworks were evolving in line with their growth.

Insights from the pilot have now been published, setting out examples of good and poor practice for high-growth firms.

Since launching its innovation services, the FCA has supported more than 1,000 innovative and growing firms.

Through the Scale-up Unit and related programmes, the regulator is seeking to support responsible innovation, strengthen confidence among fast-growing firms and help maintain the UK’s position as a leading financial services and fintech market.

Notes to editors

1. The FCA opened applications for solo-regulated firms to join the Scale-up Unit pilot in May. Applications closed on 22 June 2026.
2. Read more about the Scale-up Unit.
3. ClearScore, Modulr, and Zilch are part of the Unicorn Council for UK FinTech, a coalition established by Innovate Finance which brings together UK-based fintech unicorn founders and CEOs aiming to accelerate growth in the sector.
4. The Scale-up Unit sits alongside the FCA’s existing programmes, including Innovation Pathways, Pre-Application Support Service (PASS) and Early and High Growth Oversight function, creating a clear pathway from start-up to scale-up.
5. Early and High Growth Oversight identifies firms experiencing rapid growth at an earlier stage – including newly authorised firms, and those undergoing significant change – and provides proactive engagement to help them navigate key challenges as they scale.
6. Between July 2025 and March 2026, the FCA engaged with 15 firms across asset management, wealth management and payments as part of an Early and High Growth Oversight pilot. This was to identify rapidly growing firms earlier and support them as they establish and evolve their business. The FCA assessed whether their governance, risk management and control frameworks were developing in line with their growth and has published insights from this pilot.

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SOURCE: The Financial Conduct Authority (FCA)