Plend is officially a certified B Corporation.

Plend is officially a certified B Corporation! But what does this actually mean for our business, and why is it so important?

‍

What is B Corp Certification?

B Corp Certification assesses the overall social and environmental impact of the company that stands behind it, beyond just the product or service. B Corps are businesses that balance purpose and profit, considering their impact on people, the planet, and profits equally.

‍

Why did we pursue B Corp Certification?

Pursuing B Corp Certification aligns seamlessly with our mission. Plend was purpose-built from the ground up; it wasn’t an afterthought. We embarked on our B Corp journey in 2022, even before we were a regulated business! Now as a part of the community, we can continue to create a more inclusive lending landscape. 

‍

Walking the talk. It’s easy to talk about change, but being certified holds us to account. It ensures that our commitment to social and environmental responsibility is more than just talk–it’s a part of our structure.

‍

Being part of the community. By becoming a B Corp, we are part of a growing community of over 8,000 businesses globally. The community in the UK is one of the largest and fastest growing in the world. Being a part of a community means there’s more opportunities to collaborate, learn from each other and amplify our collective impact. 

‍

How did we become one of the first consumer lenders to become certified in the UK?

Each certified business undergoes a rigorous B Impact assessment, resulting in an overall B Impact Score. The median score for businesses is currently 50, while Plend earned an overall score of 120, exceeding the median and minimum score for B Corps (80).

‍

Plend upholds an Impact Business Model, which means we were designed to create specific positive outcomes for our customers; this helped with improving our B Impact Score. We are an impact-driven business, so we always put positive customer outcomes first.

What does this mean for our customers?

Our alignment with B Corp values extends to serving populations in need. In fact, 80% of our customer base would otherwise be financially excluded. B Corp Certification pushes us to explore new ways to create positive change. So expect more inclusive lending options and innovative solutions.

‍

Our B Corp status also means we’re transparent about our practices. You can trust that we’re committed to doing good alongside doing well. One of our promises is to regularly report on our performance so to remain transparent. You can check out our impact data here.

‍

Chris Turner, executive director of B Lab UK, says: 

“We are delighted to welcome Plend to the B Corp community. This is a movement of companies that are committed to changing how business operates and believe business really can be a force for good. We know that Plend is going to be a fantastic addition to the community and will continue driving the conversation forward.”

‍

If you’d like to see a more detailed breakdown of our B Impact Score and keep up to date with our progress, you can visit our B Corp homepage here. You can also join the movement or learn more about B Corps here. 

‍

Thank you to our incredible team and partners who made this achievement possible. 

‍

We’re changing the loan game, for good. 

‍

‍– The Plend Team