Company: Plend
Founders: Robert Pasco & James Pursaill
Website: https://plend.co.uk
About Plend
Plend is a consumer lender that uses its proprietary open-banking technology to provide affordable loans to people across the UK of up to £10,000 for 1-5 years. Open banking allows borrowers to borrow credit based on how much they can actually afford as opposed to archaic data points from the traditional credit score. Our IP technology was built in-house from the ground up, without the use of a B2B solution, and so the technology was built exactly for our target demographic.
We’re impact focused, backed by VC firm Fair By Design as well as Nationwide Building Society and are the only lender in the UK looking to attain B-Corp status (currently B-Corp Pending). We have an Impact Charter baked into our Articles of Association that introduced a hard rate cap as well as a commitment to ‘blind underwriting’ whereby we enhance inclusive decision-making by hiding a prospective borrowers personal details until after an underwriter has made a lending decision.
Since starting to lend 9 months ago, we’ve saved customers over £1,000,000 based on comparative products that they have consolidated debt from, and have launched our B2B proposition for embedded finance. We’re now working with a green energy installer to provide loans of up to £15,000 to borrowers wanting to upgrade their home with solar panels, heat pumps and EV at affordable rates, unsecured.
We’re looking ahead to explore this proposition and will be building on this this year.
