Key facts
Onstride Financial stopped lending on 25 October 2019 when CashEuroNet UK LLC entered administration. The summary below records the brand's product profile and the administration outcome shared with sister brands QuickQuid and Pounds to Pocket.
Joint Administrators: Chris Laverty, Trevor O'Sullivan and Andrew Charters of Grant Thornton UK LLP. The administration covered all three CashEuroNet UK LLC trading brands as one estate. The unified dividend of approximately 53.6 pence in the pound on agreed creditor claims was supported by parent-company funding from Chicago-listed Enova International. Source: FCA news statement, October 2019. administrators' notice on onstride.co.uk.
Timeline
Onstride's UK history is inseparable from the wider CashEuroNet UK LLC story. The brand shared its administration with sister brands QuickQuid and Pounds to Pocket. The corporate exit was driven from Chicago by parent Enova International. Each milestone is sourced to FCA notices, the administrators or contemporaneous trade press.
CashEuroNet UK LLC enters the UK market
Enova International, at that time known as CashAmerica, launches its UK subsidiary under the QuickQuid brand. The UK consumer credit business operates under the Office of Fair Trading licensing regime that predates the FCA.
FCA assumes consumer credit oversight
The Financial Conduct Authority takes over consumer credit regulation from the Office of Fair Trading on 1 April 2014. CashEuroNet transitions through interim permission to full FCA authorisation.
Pounds to Pocket and Onstride launched
CashEuroNet expands the product range beyond QuickQuid's short-term lending. Pounds to Pocket is launched as a medium-term instalment loan brand. Onstride is positioned as the personal-loan brand at the longer end of the spread, offering up to £5,000 over up to 36 months.
FCA price cap
The high-cost short-term credit price cap takes effect in January 2015. The cap applies directly to QuickQuid loans. Pounds to Pocket and Onstride are structured as longer-term personal loans and fall outside the price cap, although the wider Group is materially affected.
Affordability complaint volumes rise
Affordability complaints against CashEuroNet UK LLC accelerate, primarily driven by QuickQuid claims but covering Pounds to Pocket and Onstride loans as well. The Financial Ombudsman Service upholds a high proportion of complaints across all three brands.
Scheme of Arrangement attempt
CashEuroNet UK LLC negotiates with the FCA over a possible Scheme of Arrangement to cap redress liability. The Group is unable to agree terms acceptable to both the regulator and Enova International's board.
Administration
CashEuroNet UK LLC enters administration. Chris Laverty, Trevor O'Sullivan and Andrew Charters of Grant Thornton UK LLP are appointed as Joint Administrators. All three trading brands stop accepting new loan applications on the same day.
Enova International confirms UK exit
Enova International confirms in a regulatory filing that the administration represents a complete exit from the UK market. The US business continues unaffected.
Claims process and adjudication
Grant Thornton processes affordability claims across all three CashEuroNet brands as one unified estate. The Onstride loan book is distinct from the QuickQuid book in product terms but is dealt with through the same claim portal and the same adjudication framework.
Final dividend declared
The administrators declare a final dividend of approximately 53.6 pence in the pound on agreed creditor claims. The administration concludes after thirty months. The figure is materially higher than other UK payday administrations of the period because Enova International contributed parent-company funding to the wind-down.
Domain remains as administrator notice
The onstride.co.uk domain remains live in 2026 but only serves the administrator's notice and customer support contact details. There is no current Onstride UK lending operation and the brand is not active in the UK market.
What went wrong
Onstride's collapse was not driven by problems specific to the personal-loan brand. The Onstride book was the smallest of the three CashEuroNet UK trading brands and arguably the most defensible from an affordability perspective, since it was structured as a longer-term instalment product at lower headline APR. Onstride collapsed because it was part of a single legal entity whose other brands faced unsustainable redress liability.
Single-entity structure exposed Onstride to QuickQuid liability
CashEuroNet UK LLC was one legal entity operating three brands. Affordability liability was carried by that single entity, not split between the brands. Most of the affordability claims volume came from QuickQuid customers, since the short-term lending book had been the largest and the longest-running of the three product lines. When the QuickQuid claims volume exceeded the entity's capacity to fund redress, the whole entity collapsed. Onstride was extinguished as a side effect.
Failure to negotiate a Scheme of Arrangement
Between August and October 2019, CashEuroNet UK LLC attempted to agree a Scheme of Arrangement with the FCA. The aim was to cap redress liability across all three brands and continue trading at least the lower-risk Onstride and Pounds to Pocket products. The FCA rejected the proposed terms. Without a Scheme, Enova International concluded that continued operation was not viable and authorised the administration filing.
Parent-company decision to exit the UK
Enova International, the Chicago-listed parent, determined that the UK subprime credit market was no longer compatible with its risk appetite. The October 2019 administration was therefore not an attempted rescue but a managed exit. Enova retained its US business, which was substantially larger. UK regulatory exposure was removed entirely from its balance sheet.
If you had an Onstride loan
The CashEuroNet UK LLC administration is closed. The claim window passed in 2020 and the final dividend was paid in April 2022. The summary below covers what former Onstride customers should expect in 2026.
Compensation
Affordability claims that were submitted before the deadline and adjudicated as upheld received approximately 53.6 pence in the pound on the agreed claim amount. This was paid in April 2022 as a single distribution. No further redress will be paid through the CashEuroNet administration. The claim window cannot be reopened. The Financial Ombudsman Service is unable to consider new complaints against CashEuroNet UK LLC because the firm no longer exists as a trading business.
Outstanding loan balances
Loan balances outstanding when the administration concluded in April 2022 were either paid off, written off or assigned to a third-party debt purchaser. Borrowers receiving collection contact in the Onstride name in 2026 should request the original credit agreement and a copy of the deed of assignment before paying anything. Anyone in immediate need of credit who would previously have used Onstride should apply for a same-day loan from an active FCA-authorised lender, rather than treating any contact in the Onstride name as a borrowing opportunity. Borrowers in this position can get free advice from StepChange or National Debtline.
The onstride.co.uk domain in 2026
The domain remains live and currently serves the administrators' notice. It is not an active credit platform. Any approach soliciting credit applications, personal data or payment in the Onstride name should be treated with extreme caution. Verify any UK lender directly against the FCA register before disclosing any personal or financial information.
If you are in current financial difficulty
The four bodies below provide free, impartial advice on consumer credit matters. None of them charge customers for help. Any of them can advise on disputed historical balances, dealing with a debt purchaser holding a legacy Onstride account or the formal options open where a balance cannot reasonably be paid.
The regulatory legacy
The CashEuroNet administration is one of the larger UK consumer credit insolvencies of the 2018-2024 wave. Its distinctive feature was the unified treatment of three brands under a single administration. The materially higher dividend outcome compared with most other UK payday administrations.
Single-entity, multi-brand insolvency
The CashEuroNet structure illustrates a regulatory point that recurs across the UK consumer credit market. A single FCA authorisation can cover multiple consumer-facing brands. Corporate insolvency follows the legal entity rather than the brand. This is also true of The Money Shop and PaydayUK under Instant Cash Loans Limited, of Dot Dot Loans (the online small-loan brand under Shelby Finance) and of SafetyNet Credit and Tappily under Indigo Michael Limited. Borrowers researching what happened to a brand often find the answer at the parent legal entity level.
The role of parent-company funding
The 53.6p dividend on the CashEuroNet estate is high by the standards of UK payday administrations of the period because Enova International contributed parent-company funding to support claim payments. Wonga paid 4.3 pence, Sunny paid 3.21 pence, Money Shop and PaydayUK paid 4.31 pence. The CashEuroNet outcome reflects what is achievable when a foreign parent is willing and able to fund the wind-down rather than walk away.
The post-cap personal-loan tier in 2026
The personal-loan tier Onstride occupied is now served by FCA-authorised firms operating within the post-cap framework. Borrowers seeking comparable instalment loans should consider current operators with stable trading histories.
Where former Onstride customers borrow now.
Three FCA-authorised firms operating in the personal-loan and instalment-loan space that Onstride formerly occupied. None are connected to CashEuroNet UK LLC or Enova International. All operate within the FCA price cap framework where it applies.
Personal-loan direct lender at £1,000 to £8,000, terms 12 to 60 months, 49.9 percent representative APR. The closest UK active peer to the original Onstride positioning. Madison CF UK Limited, FCA authorised since 2013.
Direct lender for personal loans of £1,000 to £10,000, terms 12 to 60 months, 29.7 percent representative APR. Closest active peer to Onstride on APR pricing after the firm's 2026 product repositioning.
Established credit broker operating the directory's largest comparison panel. 30+ active lender partners, including most of the active personal-loan tier. Pre-application eligibility check uses a soft search only.
Sources and verification
Administration appointment, administrator identities and procedural milestones verified against the FCA news statement of 25 October 2019 and the administrators' notice published on onstride.co.uk, retrieved 28 April 2026.
Final dividend figure of approximately 53.6 pence in the pound and the April 2022 administration conclusion sourced from the Joint Administrators' final report and contemporaneous reporting at Debt Camel.
Enova International parent-company decision to exit the UK verified against contemporaneous SEC filings and the Group's 2019 annual report. The decision is consistent with the company's subsequent reporting of the UK administration as a discontinued operation.
Onstride product profile, loan amounts and term lengths verified against archived onstride.co.uk product disclosures and the administrator's published customer information page.
The relationship between Onstride, QuickQuid and Pounds to Pocket as three trading names of CashEuroNet UK LLC verified against Companies House and the FCA register entry for the firm prior to administration. Cross-referenced with the relevant entries in this directory.
Swift Money Limited is a credit broker, not a lender. This page is an editorial record published by Swift Money. Inclusion does not imply commercial relationship between Swift Money and any entity that operated under the Onstride Financial brand. We are authorised and regulated by the Financial Conduct Authority, FRN 738569.