Edinburgh-founded ClearScore is one of five fast-growing UK fintechs to become the first firms regulated solely by the Financial Conduct Authority to join the regulator’s new Scale-up Unit.
The FCA confirmed the cohort on 7 August 2026: ClearScore, Modulr, Teya, Urban Jungle and Zilch — spanning credit information, payments, consumer finance and insurtech.
What the firms get
The Scale-up Unit provides tailored regulatory support as firms develop new products, respond to policy changes and manage rapid growth. It sits alongside the FCA’s Innovation Pathways, Pre-Application Support Service (PASS) and Early and High Growth Oversight function.
Jessica Rusu, Chief Data Information and Innovation Officer at the FCA, said:
“High-growth firms play a vital role in driving economic growth across the UK. We want the UK to remain one of the best places in the world to start, grow and scale a financial services business. That’s why we’re supporting ambitious firms as they scale, helping them navigate regulation and innovate with confidence.”
Industry view
Modulr founder and CEO Myles Stephenson, whose company confirmed its place in the cohort on 10 August, said:
“The UK has established itself as a leading financial services hub, allowing fast-paced businesses like Modulr to scale. To continue innovating and investing in the future of the UK economy, strong collaboration between industry and the FCA is critical.”
Growth-stage credentials
The five firms were selected from applications that opened on 20 May and closed on 22 June 2026. Insights from a recent FCA pilot with 15 high-growth firms, published on 10 August, “show that early investment in governance, risk management and controls helps firms manage the opportunities and challenges of growth”.
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The FCA also notes that ClearScore, Modulr and Zilch are members of the Unicorn Council for UK FinTech, established by Innovate Finance to bring together UK fintech unicorn founders and CEOs.
The Scale-up Unit is jointly delivered with the Prudential Regulation Authority. A first cohort of six dual-regulated firms — Allica Bank, ClearBank, Monument Bank, Nottingham Building Society, OakNorth Bank and Zopa Bank — was announced in February 2026, with applications for the next dual-regulated group opening “soon”.
