Salad Finance Limited, the social purpose fintech and the largest consumer lending Community Development Finance Institution (CDFI) in the UK, has appointed Craig Pennington as its new CEO.
Salad Finance uses Open Banking and machine learning to bypass traditional credit scores. By analysing billions of real-time income and spending data points, it enables more accurate affordability assessments and expands access to fair and affordable credit for people often overlooked by other lenders. At a time when over 20 million UK consumers are underserved by mainstream credit and 5.6m are ‘credit invisible’, Salad Finance has lent over £250m to more than 150,000 customers since its launch in 2019.
Craig has over 30 years’ experience in a career spanning global investment management, business leadership, charities and social impact. He spent two years at Fair4All Finance, overseeing a portfolio of debt and equity investments in community finance providers and partnerships with social investors. His broader investment experience includes roles as Senior Portfolio Manager and Senior Investment Analyst at Schroders and T. Rowe Price respectively. Most recently he served as Chief Strategy Officer (CSO) at Salad Finance, where he was responsible for business strategy, fundraising, new products and services.
Subject to FCA approval, Craig will formally succeed Tim Rooney, who is stepping down after seven years as CEO of Salad Finance. During his tenure, Tim grew the business from launch to become the UK’s largest consumer lending CDFI. Tim will remain with the business over the coming weeks as part of a structured handover and will be available throughout 2026 to provide ongoing support to the Board and key stakeholders.
Alex Marsh, Chair of Salad Finance, commented:
“We are delighted to announce Craig as the new CEO of Salad Finance. He brings deep investment expertise, strong strategic leadership and a genuine commitment to social impact. He understands the organisation, our customers and our mission, and is ideally placed to lead the business through its next phase of growth.”
“On behalf of the Board, we would like to thank Tim for his leadership of Salad Finance over the past seven years. From a standing start to servicing 4,000 applications a day, with a loan book now exceeding £100m and earning over 15,000 five-star Trustpilot reviews, he has built a strong legacy. We wish him all the best in his future endeavours.”
Craig Pennington, incoming CEO of Salad Finance, said:
“Too many people with steady employment and sound financial habits remain locked out of mainstream credit due to structural flaws in how the industry assesses risk. I’ve worked closely with Salad Finance for over three years, joining them as CSO last year, and have seen first-hand the social purpose that underpins everything it does. I’m thrilled to step up into the CEO role to lead a team with such dedication.”
Tim Rooney, outgoing CEO of Salad Finance, added:
“When we started this journey in 2019, the ambition was simple but powerful: to expand access to fair, responsible finance for people too often overlooked by traditional credit providers by using Open Banking. We proved that you can grow while staying principled, be ambitious while remaining compassionate, and be commercially successful while staying true to our social mission.”
“I am leaving with enormous confidence in Salad Finance’s future. The foundations are strong, the mission remains vital, and this is one of the most capable and committed teams I have ever had the privilege to work with in my career. I am delighted that Craig Pennington will now lead Salad Finance forward as CEO. Craig is a worthy successor who understands both the purpose and the potential of this organisation.“
