ClearScore lands £200 million in funding
ClearScore, a UK-based free credit scoring service and marketplace, has picked up a £200 investment from Invus Opportunities.
Profitable since 2017, ClearScore claims 11 million customers in the UK and 14 million worldwide. The firm says it will use the funding to expand its team, product suite, and customer base globally.
The investment is a mix of primary and secondary, with existing investors - QED, Blenheim Chalcot and LeadEdge - together with management, retaining the majority of their positions in ClearScore, whilst allowing Invus Opportunities to take a significant minority position in the company.
Justin Basini, co-founder and CEO, ClearScore says: "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. 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.”
The funding round comes two years after ClearScore was forced to abandon a mega merger with Experian after competition watchdogs voiced concerns over the deal.