UK’s Credit Scoring Platform ClearScore Secures US$200 Million Investment

UK’s Credit Scoring Platform ClearScore Secures US$200 Million Investment

by June 28, 2021

ClearScore, a UK-based free credit scoring service and marketplace, announced that it has secured US$200 million from global equity investor Invus Opportunities, pushing its valuation to US$700 million.

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.

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.

This investment will accelerate ClearScore’s ongoing investments to expand its team, product suite, and customer base globally.

ClearScore currently serves over 14 million customers worldwide, on three continents.

Justin Basini, co-founder and CEO, ClearScore

Justin Basini

Justin Basini, Co-Founder and CEO, ClearScore said,

“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, whilst delivering superior services to consumers.”