Peer-to-peer lending platform Plend has joined forces with worth comparability website Monevo to deliver its client loans to a wider borrower base.
The partnership will see Plend’s mortgage merchandise distributed to shoppers utilizing Monevo’s infrastructure, know-how, decisioning and relationships.
“We’re delighted to be working with the crew at Plend, enabling higher entry and selection of credit score,” stated Daybreak Wooden, Monevo’s UK territory director.
“By providing extra reasonably priced choices, Plend are bettering the lives of many shoppers.”
In a LinkedIn submit, Plend stated that the crew was “extremely excited” to companion with Monevo to ship extra reasonably priced credit score throughout the UK, including that it was “trying ahead to the place this relationship goes.”
Learn extra: 4th Means names prime six P2P platforms of 2022
Plend has been in development mode in current months. It just lately accomplished a £40m fairness funding spherical with investments from new and current buyers. The funding might be used to gasoline the platform’s development in 2023 and support its mission to finish monetary exclusion.
Plend formally launched in July 2022 after gaining Monetary Conduct Authority approval. It provides client loans to UK debtors utilizing its personal distinctive credit score checking know-how, which goals to make it simpler for individuals to entry finance when wanted.
Since its launch, greater than £40m of mortgage purposes have been processed by means of Plend’s client lending platform and the mortgage ebook is growing by 20 per cent month on month.
Learn extra: Plend companions with Lendology to enhance monetary inclusion
