Plend - the social lending marketplace

by Startacus Admin
The lowdown on Plend, the London-based fintech that's on a mission to end the hardship caused by financial exclusion so people are not held back by their credit history
Financial exclusion is a growing issue where people are, as the term suggests, excluded from financial services and can access nothing more than a basic bank account. Financial insecurity affects more than 13 million people in the UK alone, with 5.8 million essentially invisible to the financial system, according to the Financial Inclusion Commission. This is a dangerous situation, ripe for cascading debt that people might never get out from under, and we need someone who will look out for those people. To perhaps even turn the current credit-score-based lending system on its head.
London-based fintech startup Plend is such a someone. They say that they are “on a mission to offer affordable loans to the 13 million people in the UK who are vulnerable to rip-off rates and financial hardship because of a flawed credit scoring system”.
Rather than using a credit score, the startup uses open banking to securely access an applicant’s bank account to understand their unique financial situation and their behaviour in order to make more insightful and informed lending decisions personalised to that person, rather than based on a credit score. As an investor, you can directly back individuals, lending through Plend to help make a difference to the lives of those 13 million people and be a part of making money lending a more ethical and humane endeavour.
In September, Plend announced that it had secured £700k in funding in a round led by Tomahawk, and Ascension, with participation from other investors such as Haatch and NBS Ventures. The consumer lending market is worth about £24 billion, and a startup moving into that space in order to bring a fairer system to people and stop them from being exploited or completely ignored is in a very good position to completely change the lending system.
Subscribe to our newsletter
If you would like to receive our startup themed newsletter, full of the latest startup opportunities, events, news, stories, tips and advice, then sign up here.
Glasgow-based This is Milk seeks investment for Neve Learning, its cloud-based Ed-Tech platform that has inclusivity and accessibility at its core.

With the UK facing a clear digital skills gap, Amy Caton, Digital Talent and Impact Senior Manager at BT Group shares some insights on what businesses should do to close that divide.

The lowdown on Berlin-based Beazy and its innovative solution that helps teams to plan, produce and deliver creative content and helps businesses to connect with talented content creators.

Huckletree's new Web3 HQ aims to put London’s West End at the forefront of Britain’s tech superpower ambitions.

Leading sports marketing platform, OpenSponsorship announces move into music sector, the first new vertical industry for the trans-Atlantic martech business.

Kingussie High School scoops first place for Junior and Senior categories at this year’s Growing Future Assets Competition.

The lowdown on Manchester-based Arctic Shores and its innovative recruitment solution to help candidate potential count as much as skills and experience.

With the demand for tattoo removal now greater than ever, specialist NAAMA Studios makes a bid for a further £11m in funding.

By combining machine-learning with zero-party data, new tool launched by MarTech startup Qudo ends the ‘era of assumption’ for marketers.

Want to be your own boss and earn some money whilst travelling? Here are a few ways to do just that...
Published on: 23rd September 2021
If you would like to enable commenting via your Startacus account, please enable Disqus functionality in your Account Settings.







- Neurodiverse learning and training platform Neve shares major six-figure investment opportunity 22nd Mar 2023 Glasgow-based This is Milk seeks investment for Neve Learning, its cloud-based Ed-Tech platform that has inclusivity and accessibility at its core.
- Huckletree opens new London hub for tech companies pioneering Web3 solutions 16th Mar 2023 Huckletree's new Web3 HQ aims to put London’s West End at the forefront of Britain’s tech superpower ambitions.
- OpenSponsorship making its move into the music sector 16th Mar 2023 Leading sports marketing platform, OpenSponsorship announces move into music sector, the first new vertical industry for the trans-Atlantic martech business.
- Scottish Highlands Home to the Next Generation of Future Female Investors 15th Mar 2023 Kingussie High School scoops first place for Junior and Senior categories at this year’s Growing Future Assets Competition.