Plend

Plend Limited (Companies House 12581855) is a UK consumer credit firm, registered at Aldgate Tower, 4th Floor, 2 Leman Street, London E1 8FA. It is directly authorised by the FCA under FRN 963328 and holds Consumer Credit Lending permissions. Founded in 2020 by Robert Pasco and James Pursaill, the firm targets borrowers underserved by traditional credit scoring, marketing a proprietary PLEND Score® built on Open Banking transaction data.

Plend announced a £40m funding / application processing milestone in November 2022 — a company-stated figure rather than independent verification.

Plend underwrites and originates consumer loans. The firm uses Open Banking and the PLEND Score® to consider actual transaction data rather than relying solely on credit bureau scores, which it says enables lending to people with incomplete or inaccurate credit files.

Historically Plend had a marketplace element enabling retail investors to fund loans; following the Article 36H change (16 Feb 2024) the firm no longer accepts new retail-investor funding via an electronic lending platform and now distributes loan products principally through partner marketplaces (ClearScore, Credit Karma, TotallyMoney) and other channels. If you were assessing Plend as an investment opportunity, that route is no longer available for new business; borrowers can still apply for a Plend loan under the firm's consumer credit permissions.

Personal loans and debt consolidation loans for borrowers. Plend states interest rates ranging from around 9% to 28% and claims no late fees and no early repayment penalty. A company-stated weighted average APR for current customers was 18.31% on 28 March 2024 — a historic figure, not a forward projection. Headline rates and the average APR indicate the borrower profile and risk pricing; higher average APRs typically reflect higher underwriting risk. Note the public Terms & Conditions page returned a 'Page not found' at the time of checking — a transparency point to confirm directly with the firm.

Now a borrower-facing consumer credit lender rather than an investment opportunity. Suited to UK consumers who may be underserved by traditional credit scoring and want affordability assessed via Open Banking transaction data. Following the Article 36H change in February 2024, retail investors cannot fund new loans via the platform.

Plend is a directly authorised firm (not an Appointed Representative) and holds its own permissions and regulatory responsibilities with the FCA. It holds Consumer Credit Lending permissions and, as of 16 February 2024, ceased to be an 'operator' under Article 36H — meaning it no longer promotes, accepts or arranges new applications for the lending of new funds by retail investors via an electronic lending platform. The firm remains active for consumer credit lending. The FCA Register notes specific requirements or restrictions on its permitted activities — review the Register for the precise wording before relying on it.