Plend
FCA-authorised fair lending platform offering ethical consumer loans funded by peer-to-peer investors. Focuses on affordable credit using open banking data for underwriting.
General Information
Plend Limited (FRN 963328) is an FCA-authorised fair lending platform founded in 2021. Plend offers ethical consumer loans funded by peer-to-peer investors, using open banking data rather than traditional credit scores to assess borrower affordability. The platform aims to provide more affordable credit to borrowers who may be underserved by mainstream lenders.
Plend represents a newer generation of P2P platform, combining social impact objectives with technology-driven underwriting. The platform's use of open banking data for credit assessment is a distinctive feature in the UK P2P market.
How does it work?
Plend uses open banking technology to analyse borrowers' actual income and spending patterns, rather than relying solely on credit scores. This approach aims to provide a more accurate assessment of affordability and to extend credit to borrowers with thin credit files or non-standard financial profiles.
What do they offer?
Consumer P2P lending opportunities from approximately £100. Loans are unsecured consumer credit. The platform focuses on ethical lending with APRs designed to be lower than typical subprime alternatives.
Who is it for?
Suited to investors interested in social impact investing through consumer lending. Consumer P2P loans are unsecured and carry default risk. The platform is relatively new with a limited track record. Capital is at risk.
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Disclaimer: This article is for informational and educational purposes only and does not constitute financial advice and should not be considered as such. In particular, it does not constitute personal advice — please consult a qualified financial adviser to address your particular personal requirements. Other is not regulated by the Financial Conduct Authority (FCA), its authors are not financial advisers and it is therefore not authorised to offer financial advice. This article is not intended as an offer, invitation or solicitation for the purchase or sale of any investment, nor is its issuance intended to give rise to any other legal relations whatsoever and must not be relied upon for the purposes of any investment decision. The information contained in this article is subject to updating, revision and amendment.
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