London-based responsible lending FinTech Plend secures funding facility of up to €58.3 million

Plend , a London-based responsible lender dedicated to tackling financial exclusion across the UK, has secured a funding facility of up to €58.3 million (£50 million) from Triple Point, a London-based specialist investment manager.

The investment firm has originated a €23.2 million (£20 million) senior revolving credit facility, with the potential to increase to £50 million, to support the next stage of Plend’s growth.

James Pursaill , CEO and founder at Plend, said, “Our mission has always been to prove that a person is more than their credit score. This partnership will give thousands more people access to credit that traditional lenders overlook, while continuing to build the kind of fair, transparent lending that’s long overdue in this market. Partnering with a team like Triple Point, who share that conviction, makes this a genuinely exciting time for Plend.”

Founded in 2020, Plend is an FCA-authorised consumer lender focused on providing responsible, affordable credit to borrowers underserved by traditional high-street lenders.

The company states that it uses Open Banking data and proprietary credit technology to assess affordability based on a customer’s real financial circumstances, rather than relying on traditional credit scores alone.

This enables Plend to responsibly serve creditworthy near-prime borrowers who are often overlooked by mainstream lenders, helping customers consolidate multiple expensive commitments into a single, structured and more affordable repayment plan.

According to the company, its proprietary technology, the PLEND Score®, assesses borrowers’ affordability rather than solely relying on the credit score. The company claims that this makes its product more accessible, accurate and cheaper.

Founded in 2004, Triple Point manages approximately €2.9 billion (£2.5 billion) across private credit, clean heat, energy transition, social housing and ventures. Both Plend and Triple Point are Certified B Corporations.

The firm states that its Speciality Finance team has completed a number of similar facilities over the past year, and its wholesale lending clients include MT Finance, Hope Capital, Brickflow, BIG Property Finance, Redwood, Ortus and Faes & Co.

Ellis Diamanti , Head of Specialty Finance, Private Credit at Triple Point, said, “Plend has built a distinctive consumer lending platform that combines technology-led underwriting with a strong commitment to responsible lending and financial inclusion. Its B Corp certification reflects a customer-focused approach that aligns closely with our own values as a fellow B Corp.

“Backed by high-quality management team and investors, Plend is well positioned for its next stage of growth. We are delighted to be partnering with the business and supporting its ambitions. The facility also marks our first transaction in consumer lending, reflecting our conviction in Plend’s platform and the opportunity to support responsible access to credit.”

Plend plans to use this facility to refinance its existing funding line and fund new originations, providing committed capital for the next phase of growth as the business continues to scale its lending platform.