4 years ago

Plend Secures £700,000 to Expand Affordable Lending in the UK

  • Plend, a UK-based startup, has secured £700,000 in funding led by early-stage VCs Tomahawk and Ascension, with participation from Haatch and NBS Ventures

  • The investment will be used to expand Plend's position in the consumer lending market and provide affordable loans to those excluded from traditional credit scoring systems

  • Plend is the UK's first social lending marketplace, offering sustainable, long-term loans and using Open Banking technology to assess creditworthiness based on actual behavior and current financial position.

      • ProblemFinancial Services

      "Millions of people in the UK are financially excluded, meaning they can't access fair and affordable loans due to an outdated credit scoring system that doesn't accurately reflect their financial situation."

      Solution

      "Plend is a social lending marketplace that uses Open Banking technology to provide a fairer and more accessible way to lend and borrow money. By analyzing real-time financial data, Plend offers personalized loans to those underserved by traditional lenders."

      Covered on