Fund Ourselves Limited Enters Administration Following FCA-Imposed Restrictions

The Headlines

Fund Ourselves Limited, a UK-based peer-to-peer lending platform operating in the high-cost short-term credit space, entered administration on 21 July 2025. This follows regulatory restrictions imposed by the Financial Conduct Authority (FCA) in April, and the firm is not covered by the Financial Services Compensation Scheme (FSCS).

Regulatory Intervention: The VREQ

On 11 April 2025, the FCA imposed a Voluntary Requirement (VREQ) on the firm, effectively freezing new business activity and limiting the firm’s ability to handle client money or issue communications.

Key terms of the VREQ included:

• Ceasing all regulated activity (except servicing existing customers)

• Prohibiting the disposal of client money or custody assets without FCA consent

• Banning new financial promotions or the approval of promotions for others

• Restricting acceptance of new customers, lending, or investments

• Preserving all records related to regulated activity

• Requiring written confirmation of compliance

• Providing weekly updates to the FCA

Independent Viability Review Required

In a significant addition to standard VREQ terms, the firm was also required to appoint an independent external adviser to assess its ongoing viability.

This step reflects a more assertive approach from the FCA - using supervisory tools not just to pause activity, but to require boards to formally consider whether the business remains sustainable and compliant. It also provides the regulator with an informed, third-party view of the firm’s position, shaping potential next steps.

Administration and What Happens Next

Just over three months after the VREQ was imposed, the directors applied to court to place the firm into administration on 19 July 2025. Joint administrators from Azets Holdings Ltd were appointed on 21 July.

The FCA has confirmed:

• The firm’s existing loan book will continue to be collected

• Investors will receive further updates from the administrators

• It will continue to supervise the firm during the administration

A Broader Message for the Market

The Fund Ourselves case highlights a number of themes relevant to regulated firms and their boards:

✅ FCA intervention is getting sharper and more structured. The use of VREQs as a supervisory - not just enforcement - tool is increasing.

✅ Client money and custody asset protections matter more than ever, particularly for firms outside FSCS scope.

✅ The expectation to self-assess and evidence viability is growing. The regulator is looking to firms to act with foresight and accountability.

Why It Matters – and What Firms Should Do

For those in the lending, investment, or fintech sectors, this event is a powerful reminder:

Are your controls resilient enough to withstand scrutiny? If required, could you demonstrate to the FCA that your business is still viable, well-governed, and acting in clients’ best interests?

If not, now is the time to take stock. This includes reviewing:

• Client asset arrangements and safeguarding protocols

• Financial resilience and contingency plans

• Governance readiness for VREQs, attestations, or administration

Fund Ourselves Limited enters administration | FCA