Responsible lender Plend secures £50m credit facility from Triple Point

Source: Triple Point

Triple Point, the innovative investment manager specialising in private markets, has originated a £20 million senior revolving credit facility, with a potential £30 million uncommitted accordion, to Plend, the FCA-authorised consumer lender focused on providing responsible, affordable credit to borrowers underserved by traditional high-street lenders.

The facility will enable Plend 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.

Founded in 2020, Plend 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.

As certified B Corporations, Triple Point and Plend share a commitment to expanding access to credit and delivering positive customer outcomes. Plend’s focus on financial inclusion and responsible lending aligns closely with Triple Point’s own values and investment approach.

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.”

James Pursaill, chief executive officer and founder of 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.”

Triple Point’s 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.