ClearScore secures £143m investment

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.”

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