How a London Fintech Just Secured $68M to Fix Credit Scoring

Jan de Vries · 2026-07-29

### The Big Picture: Why This Deal Matters Plend, a London-based responsible lender, just locked in a funding facility worth up to $68 million (roughly £50 million) from Triple Point, a specialist investment manager also based in London. This isn't just another funding round—it's a signal that the way we think about credit is changing. The initial tranche is $27.2 million (around £20 million) as a senior revolving credit facility, with room to grow to the full $68 million. For context, that's enough to give thousands of people a second chance at affordable credit. ### What Makes Plend Different? Founded in 2020, Plend is an FCA-authorized consumer lender with a mission to tackle financial exclusion. The company's secret sauce? It uses Open Banking data and its own proprietary credit technology to assess affordability based on a person's real financial situation—not just a traditional credit score. - **No more judging by a number:** Plend's PLEND Score looks at your actual income, spending, and commitments. - **Fairer for near-prime borrowers:** People who are creditworthy but overlooked by mainstream banks finally get a shot. - **Consolidation made simple:** Customers can roll multiple expensive debts into one affordable monthly payment. James Pursaill, CEO and founder at Plend, put it this way: > "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." ### Who's Backing This Vision? Triple Point isn't new to the game. Founded in 2004, they manage about $3.4 billion across private credit, clean heat, energy transition, social housing, and ventures. Both Plend and Triple Point are Certified B Corporations, meaning they balance profit with purpose. Ellis Diamanti, Head of Specialty Finance at Triple Point, explained why they chose Plend: > "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." This deal is also Triple Point's first move into consumer lending—a big vote of confidence in Plend's model. ### How Plend Plans to Use the Cash Plend will use this facility to refinance its existing funding line and fuel new loan originations. In plain English: they're freeing up capital to lend to more people who need it. As the business scales, more near-prime borrowers can access fair, transparent credit that actually reflects their ability to repay. ### Why This Matters for the US Market You might be thinking, "This is a UK story—why should I care?" Because the same problems exist here. Millions of Americans are locked out of affordable credit because of outdated scoring models. Plend's approach—using real-time financial data—is a blueprint that could easily cross the Atlantic. If you're a professional in the fintech or lending space, keep an eye on Plend. They're proving that responsible lending and profitability can go hand in hand.