LDC, the private equity investor and subsidiary of Lloyds Banking Group, has invested in credit risk technology group LendingMetrics.

Founded in 2010, LendingMetrics specialises in software and data solutions that help businesses make automated and risk-based lending decisions, with a suite of services including proprietary multi-bureau credit referencing product LendingMetric Exchange (LMX) and bank statement data platform OpenBank Vision (OBV).

LendingMetrics’ current clients include building societies, online lenders, mortgage companies, credit card providers and commercial lenders.

As part of the deal, LDC said it aims to help the FinTech scale its presence in the UK’s fast-growing decisioning software and data market.

LDC’s investment and strategic support aims to help the business accelerate new product development within its core financial services sector, and expand its network of partners across its consultancy and data services division.

The company said the capital will also enable LendingMetrics to complete new acquisitions to diversify its presence in new vertical industries including the telecoms, utilities and insurance sectors.

“Neil, David and the wider LendingMetrics team have built a highly sophisticated and disruptive technology stack that is at the cutting edge of credit risk technology and has made the business a critical, trusted partner to their clients,” said Oliver Schofield, investment director at LDC.

Over the past decade, the private equity firm has invested £175 million into fast growing technology businesses. Its current portfolio includes a number of companies such as cloud-based insurance technology platform Uinsure; database, cloud and applications managed service provider DSP; and leading artificial intelligence-based talent analytics platform Horsefly.

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