FCA Expands Scale-Up Unit to Support High-Growth Solo-Regulated Firms

The UK Financial Conduct Authority (FCA) has announced that five fast-growing firms have joined its Scale-up Unit to receive tailored regulatory support as they expand their operations. The cohort consists of ClearScore, Modulr, Teya, Urban Jungle, and Zilch, spanning the payments, consumer finance, credit information, and insurtech sectors. These businesses represent the first cohort regulated solely by the FCA to take part in the program. The FCA's Scale-up Unit is designed to provide targeted regulatory guidance to firms as they introduce new products, navigate policy developments, and address the operational challenges associated with rapid expansion. According to the regulator, insights from a recent pilot with 15 high-growth firms demonstrated that early investment in governance, risk management, and internal controls plays a key role in helping companies scale sustainably. Jessica Rusu, Chief Data, Information and Innovation Officer at the FCA, stated that high-growth businesses play an essential role in driving UK economic growth. She noted that the initiative aims to maintain the UK's position as a leading jurisdiction to start and scale financial services enterprises by helping firms navigate regulatory frameworks and innovate with confidence. This intake follows an initial cohort of six firms jointly regulated by both the FCA and the Prudential Regulation Authority (PRA), which were announced in February. The regulator confirmed that applications for the next intake will open soon. The Scale-up Unit operates alongside other regulatory support initiatives at the FCA, including Innovation Pathways, the Pre-Application Support Service (PASS), and the Early and High Growth Oversight function. Across its suite of innovation services, the FCA has provided support to more than 1,000 innovative and expanding businesses.