UK credit marketplace ClearScore has received £143 million ($200 million) in funding.
The investment, made by Invus Opportunities, values the company at £503 million ($700 million.)
The money will be spent on expanding the FinTech’s team, product range, and customer base.
The deal sees Benjamin Tsai of Invus Opportunities joining the ClearScore board, with co-founders Nigel Morris remaining as chairman and Justin Basini continuing as chief executive.
“As one of the only profitable UK FinTech business operating at real scale, we didn’t need to raise money, but rather we chose to partner with Invus,” said Justin Basini, co-founder and chief executive, ClearScore. “We made this decision as a team because of Invus’ track record of working strategically over the long term with their businesses to recognise global opportunities, whilst delivering superior services to consumers.”
Basini added: “I have been incredibly impressed with Invus’ insight and I’m looking forward to working closely with them to deliver our vision, that ClearScore will become an indispensable financial partner to millions more users around the world.”
Latest News
-
Santander to acquire TSB for £2.65bn in strategic UK expansion
-
Bitget Wallet and Mastercard to launch zero-fee crypto card
-
British Business Bank launches initiative for female investors
-
Lloyds Bank explores use of neurosymbolic AI across group
-
BBVA pushes ahead with Sabadell takeover despite government merger restrictions
-
Yonder rolls out debit cards
Banking's GenAI evolution: Beyond the hype, building the future
In the first episode of a three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech explores how financial institutions can navigate the transformative potential of Generative AI while building lasting foundations for innovation.
Beyond compliance: Transforming document management into a strategic advantage for financial institutions
In this exclusive fireside chat, John Rockliffe, Pre-Sales Manager at d.velop, discusses the findings of Adapting to a Digital-Native World: Financial Services Document Management Beyond 2025 and explores how FSIs can turn document workflows into a competitive advantage.
Sanctions evasion in an era of conflict: Optimising KYC and monitoring to tackle crime
The ongoing war in Ukraine and resulting sanctions on Russia, and the continuing geopolitical tensions have resulted in an unprecedented increase in parties added to sanctions lists.
Achieving operational resilience in the financial sector: Navigating DORA with confidence
Operational resilience has become crucial for financial institutions navigating today's digital landscape riddled with cyber risks and challenges. The EU's Digital Operational Resilience Act (DORA) provides a harmonised framework to address these complexities, but there are key factors that financial institutions must ensure they consider.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories