Plend, the FCA-authorised consumer lender that provides affordable credit to borrowers overlooked by mainstream high-street banks, has secured a senior revolving credit facility of £20m from private markets investment manager Triple Point, alongside an uncommitted accordion that could add a further £30m.
The new funding line will allow Plend to refinance its current debt facility while also financing fresh loan originations. It hands the company committed capital to support the next stage of its expansion as it continues to grow its lending platform.
Established in 2020, the lender draws on Open Banking data combined with its own credit technology to judge affordability against a borrower’s genuine financial position, moving beyond a reliance solely on conventional credit scores. This approach allows the firm to lend responsibly to creditworthy near-prime customers frequently ignored by mainstream providers, and helps borrowers roll several costly commitments into one structured, more manageable repayment plan.
Both businesses hold B Corporation certification and share an ambition to widen access to credit while delivering strong outcomes for customers. Plend’s emphasis on financial inclusion and responsible lending sits closely alongside Triple Point’s values and investment philosophy.
Triple Point is a specialist investment manager with two decades of experience in originating and running hard-to-access private market assets. It oversees roughly £2.5bn spanning Private Credit, Clean Heat, Energy Transition, Social Housing and Ventures. Its Speciality Finance team has closed several comparable facilities over the last year, with wholesale lending clients including MT Finance, Hope Capital, Brickflow, BIG Property Finance, Redwood, Ortus and Faes & Co.
Triple Point head of specialty finance, private credit Ellis Diamanti 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 CEO and founder James Pursaill 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.”
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