LONDON, United Kingdom — Plend, a London-based FinTech focused on responsible consumer lending, has secured a funding facility of up to €58.3 million (£50 million) from specialist investment manager Triple Point to accelerate lending across the UK.
The financing will enable the company to refinance its existing funding line, originate new loans, and expand access to affordable credit for consumers who are often underserved by traditional banks and lenders.
Using Open Banking Instead of Traditional Credit Scores
Founded in 2020, Plend is an FCA-authorised consumer lender that uses Open Banking data and proprietary credit technology to evaluate borrowers based on their actual financial behaviour rather than relying solely on conventional credit scores.
Its proprietary PLEND Score® analyzes affordability using real-time financial information, allowing the company to identify creditworthy customers who may be overlooked by traditional lending models.
This approach helps near-prime borrowers access fairer financing while reducing dependence on outdated credit assessment methods.
Supporting Financial Inclusion
Plend’s mission is to address financial exclusion by providing transparent and affordable loans to people who have limited access to mainstream credit despite demonstrating responsible financial behaviour.
The company’s lending products are designed to help customers consolidate multiple high-cost debts into a single structured repayment plan with more manageable terms.
According to founder and CEO James Pursaill, the partnership with Triple Point reinforces the company’s belief that people should be assessed on more than just their credit score.
He said the additional capital will allow thousands more consumers to access responsible lending while supporting Plend’s long-term vision of creating a fairer credit market.
Funding to Fuel the Next Stage of Growth
The financing package begins with a €23.2 million (£20 million) senior revolving credit facility and has the potential to increase to €58.3 million (£50 million) as Plend continues to scale.
The company will use the funding to refinance existing facilities while supporting new loan originations, providing committed capital for continued expansion.
Shared Focus on Responsible Finance
The investment comes from Triple Point, a London-based investment manager overseeing approximately €2.9 billion (£2.5 billion) across private credit, clean energy, housing, and venture investments.
Both Triple Point and Plend are Certified B Corporations, reflecting their commitment to balancing commercial growth with positive social impact.
Ellis Diamanti, Head of Specialty Finance at Triple Point, said the firm’s investment reflects confidence in Plend’s technology-driven underwriting platform and its mission to expand responsible access to credit.
He added that the transaction also represents Triple Point’s first investment in the consumer lending sector.
FinTech Innovation Reshaping Consumer Credit
As Open Banking adoption continues to grow across Europe, lenders are increasingly replacing traditional credit scoring with real-time financial data and AI-powered affordability assessments.
By combining Open Banking with proprietary underwriting technology, Plend is part of a new generation of FinTech companies seeking to make lending more inclusive while maintaining responsible risk management.
The new funding facility positions the company to scale its lending platform further and strengthen its role in improving financial inclusion for underserved consumers across the United Kingdom.
