London-based fintech Plend secures up to €58.3 million in funding

Plend, a London-based responsible lender focused on 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 provided a €23.2 million (£20 million) senior revolving credit facility, with the potential to increase to £50 million, to support Plend’s next stage of growth.

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 uses Open Banking data and proprietary credit technology to assess affordability based on a customer’s real financial circumstances, rather than relying solely on traditional credit scores. This allows Plend to responsibly serve creditworthy near-prime borrowers who are often overlooked by mainstream lenders, helping them consolidate multiple expensive commitments into a single, structured, and more affordable repayment plan.

Triple Point, founded in 2004, 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.

Ellis Diamanti, Head of Specialty Finance, Private Credit at Triple Point, noted that Plend has built a distinctive consumer lending platform combining technology-led underwriting with a strong commitment to responsible lending and financial inclusion. The B Corp certification reflects a customer-focused approach that aligns with Triple Point’s values. This transaction marks Triple Point’s first deal in consumer lending.

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