Access to affordable credit remains one of the biggest financial challenges facing millions of people across the United Kingdom. While traditional lending models continue to rely heavily on credit scores, many financially responsible individuals are excluded from mainstream borrowing despite having stable incomes and the ability to repay loans. As digital financial technology evolves, a growing number of lenders are using alternative data and intelligent underwriting models to create fairer access to credit. London based fintech company Plend is among the businesses leading this transformation, and its latest funding agreement will enable it to expand responsible lending to thousands more underserved borrowers across the country.
Plend has secured a funding facility of up to £50 million from specialist investment manager Triple Point to support the next phase of its growth.
The agreement begins with a £20 million senior revolving credit facility and includes the potential to increase the total commitment to £50 million as the company continues to scale its lending operations.
Expanding Access to Fair Credit
Founded in 2020, Plend is a Financial Conduct Authority authorised consumer lender focused on improving access to affordable credit for borrowers who are often overlooked by traditional high street financial institutions.
The company believes that financial decisions should reflect an individual’s real financial circumstances rather than relying solely on historical credit scores.
Its mission is to reduce financial exclusion by providing responsible lending solutions that enable more people to access transparent and affordable personal loans.
Through this approach, Plend seeks to create a lending system that rewards financial behaviour rather than outdated credit assessments.
Using Technology to Improve Lending Decisions
At the centre of Plend’s platform is its proprietary PLEND Score, an affordability assessment model that combines Open Banking data with the company’s own credit technology.
Instead of depending entirely on conventional credit scoring methods, the platform evaluates customers using real time financial information to better understand income, spending patterns, and repayment capacity.
This enables the business to identify near prime borrowers who may not qualify for traditional loans despite demonstrating responsible financial behaviour.
The technology also helps customers consolidate multiple expensive borrowing commitments into a single structured repayment plan that is easier to manage and more affordable over time.
Partnership Built on Shared Values
Triple Point is one of the United Kingdom’s established specialist investment managers with investments spanning private credit, clean heat, energy transition, social housing, and venture capital.
Like Plend, Triple Point is a Certified B Corporation, reflecting a commitment to balancing commercial success with positive social impact.
The financing marks Triple Point’s first investment within the consumer lending sector and demonstrates confidence in Plend’s technology driven approach to responsible finance.
Both organisations share the objective of improving financial inclusion while supporting sustainable long term growth.
Supporting Future Growth
Plend plans to use the new funding facility to refinance its existing funding arrangements while providing additional capital for new loan originations.
The increased financial capacity will allow the company to serve more customers while continuing to invest in its digital lending platform and proprietary underwriting technology.
As demand for alternative lending solutions continues to grow, access to committed funding will strengthen Plend’s ability to expand responsibly without compromising its customer focused approach.
The facility also provides greater financial flexibility as the business continues to scale nationwide.
Driving Financial Inclusion Through Innovation
Technology is reshaping the lending industry by enabling financial institutions to make more informed and inclusive decisions based on real world financial behaviour rather than traditional credit metrics alone.
Plend believes this evolution can create a more equitable financial system that gives responsible borrowers greater access to affordable credit while reducing dependence on high cost lending alternatives.
With the support of Triple Point, the company is entering a new stage of growth focused on expanding its reach, strengthening its lending platform, and helping thousands more people access fair and transparent financial products. As responsible finance becomes increasingly important within the United Kingdom’s financial ecosystem, Plend is positioning itself as a leading technology driven lender committed to improving financial inclusion through smarter and more accessible credit solutions.
