Triple Point originates facility of up to £50m for consumer lender Plend

Triple Point has originated a £20m senior revolving credit facility, with a potential £30m uncommitted accordion, to Plend, an FCA-authorised consumer lender.

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.

Ellis Diamanti, head of speciality finance 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.

“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, CEO 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.”