CashFlex (aka Cash Flex) is a brand from Digitonomy Ltd who we had previously looked into for their Little Loans project. This newer release at www.cashflex.co.uk has grown quickly although they aren’t quite as popular as Little at this time. The site was launched in the month of October 2014. They do state that they have been around since 2013, but they’ll likely be referring to the owner there. One thing to note is that Digitonomy’s licence number #658817 has now expired. They actually show a different number on their site, but we couldn’t find this when we searched the FCA’s directory and so this may have been recently registered (Update: Now replaced).

First impressions when heading on to www.cashflex.co.uk were positive. The design is slick, with a modern theme, a calculator attached and encryption used. On the calculator you can choose monthly blocks of 3, 6, 12, 18, 24 or 36 months. The sum range is £500 to £5000. When we sampled £1000 over a year they set the interest at £83. This type of value would only be available in the prime space (likely from banks) with a top credit score. There isn’t however an emphasis on targeting poor credit here and so they aren’t being misleading. There is more of a focus on headlining that there are no fees, no paperwork and that you can expect same day funding.

CashFlex states that they are currently processing more than 2000 loans daily. This sounds like a high volume considering that they don’t command much of a major presence in the leading search engines. They have however recently been investing in Google ads that should be generating plenty of leads. This is a similar approach as used at Little. It is not stated which lending partners are used here. We believe they are using some kind of pingree system with several firms attached, whereby they’ll scan for the first lender who is happy to accept the offer. Whilst we often see many brokers fading out, you get a feeling that Digitonomy may have a bright future ahead.