OpenWrks, Tully, Payplan and PayLink, to merge in transformative deal for debt advice sector and wider financial services ecosystem

May 2021

The merger will create a new tech-enabled debt advice, financial wellbeing and credit solutions group, which will improve access to, investment in and innovation of the debt advice sector. The new group will accelerate innovation in digital tools and services for the debt advice sector whilst also extending the range of technology services available to clients and partners.

Today, OpenWrks announces the intended merger of four companies from the FinTech and debt advice sectors: OpenWrks, Tully, PayPlan, and PayLink. The merger will deliver a tech-enabled debt advice, financial wellbeing and credit solutions group that can deliver transformative technology to customers and clients.

The intention of the merger is to bring together highly complementary companies in debt advice, credit risk and collections industries with unique specialisms in open banking, technology and data science to improve and diversify access to debt advice for customers, drive innovation in transformative technology for customers and clients.

Exponent is supporting the merger by providing investment to the newly-formed group. Exponent’s involvement will accelerate innovation and growth within the group benefitting existing and future clients and customers alike.

For clients and partners, OpenWrks, the UK based provider of open banking applications and PayLink, the innovative onboarding and collections software provider, will combine to deliver a transformative and industry-leading suite of solutions in collections, credit management and debt advice. 

Steve Bradford, Co-Founder of OpenWrks Group, said: “We believe the combined capabilities from this merger will be hugely beneficial to our clients and partners. The merger will provide us with the scale to further establish our services in the UK whilst also helping us to accelerate our growth internationally.”

Susan Rann, CEO of Paylink Solutions said: “We’re very excited about this new venture, and look forward to combining the expertise, experience and technology of each of these companies to position the new group as industry leaders in the FinTech space. In the meantime, our clients should be reassured that we will continue to operate ‘business as usual’ and look forward to delivering a number of software solutions contracts in the coming months.”

Tully, the world’s first digital debt advisor, and PayPlan, one of the UK’s  free debt advice providers, will create a new flexible, omnichannel debt advice service, offering everything from human debt advisers to digital interfaces. The new full service offering will allow the group to  meet current and future demands in the sector whilst improving the customer experience to deliver better customer outcomes and improve financial wellbeing. 

Stuart Bungay, Co-Founder of  Tully, said: “We are delighted to be merging the businesses together and broaden our reach to customers across the UK. This is particularly timely given the need to significantly increase free to consumer debt advice is anticipated to exceed all previous levels next year”  

Rachel Duffey, CEO of PayPlan said: “It is widely known that the demand for debt advice is increasing and there’s also a clear need for better accessibility for vulnerable customers struggling with problem debt. I’m thrilled that this new collaboration will give us the opportunity to use innovative technology and investment to support the sectoral response to this demand, increasing the capacity, accessibility and quality of free debt advice.”  

The companies within the new group will remain operationally separate until further notice as the group identifies the most beneficial route forward for clients and customers. The transaction remains subject to regulatory approval and customary closing conditions.


About OpenWrks

Founded in 2015 by Blenheim Chalcot, OpenWrks is a UK based provider of open banking applications. It’s market leading MyBudget solution has been used by over 40 clients and partners in financial services, government and utilities.  Leveraging customer first design principles, MyBudget helps consumers to understand what they can afford to borrow, repay, save and invest by using and sharing open and first party data.  

About Tully

Tully is the world’s first digital debt advisor that leverages open banking to help consumers build a budget and get a good understanding of their financial situation. Tully provides regulated debt advice by working out the best options based on an individual’s circumstances, all delivered through a digital interface designed using behavioural science and the latest thinking in human centred design. Customers can create a Flexi-plan that dynamically recalculates the amount someone can afford each month, resulting in lower plan breakage and better outcomes for customers. 

About PayPlan

One of the UK’s foremost free debt advice providers PayPlan have helped over 1 million people in the last 25 years, offering confidential, FCA-regulated advice and support to anyone struggling with debt. It is an Omnichannel provider, offering a range of online advice channels as well as expert advice over the phone. PayPlan is a preferred referral partners for many major high street lenders, working closely with the free debt advice sector. PayPlan is continuously working to improve accessibility to debt advice for all, particularly those struggling with vulnerabilities / mental health problems through digital innovation and training. 

About PayLink

Award-winning provider of trusted and innovative onboarding & collections software solutions to the financial services industry, including many major high street banks and law firms. PayLink’s usage of data and technology enables clients to better connect with their customers in the collections, lending and banking industries. Better outcomes for clients occur through increased customer engagement and completion (of the I&E software). PayLink Solutions software is used by a number of major high street banks, law firms, debt management companies and mortgage brokers, dealing with thousands of customers every day.  


For further details please contact:

Montfort Communications

Woolf Thomson Jones –