Alternative lending FinTech Plend has raised a total £40mn in debt and equity funding.
In Brief:
The round was led by Active Partners.
It included Velocity Juice, Sivo, Ascention, Tomahawk VC, DD Venture Capital and Haatch.
It follows Plend’s FCA approval and opening access to its financial products.
What does this mean?
Since opening early access, the company has processed round £43mn in loan applications and says the demand for low cost financing is “huge”. It’s also pending B Corp status and aims to help those who are financially vulnerable by offering its “Plend Score” decisioning technology to charity lenders.
