ClearScore is the leading free credit score and financial product marketplace in the UK. The London-based company helps users take control of their financial health. Now, the fintech has picked up $200 million (nearly £144 million) funding from Invus Opportunities, a global equity investor.
Set to accelerate global growth
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.
With this investment, ClearScore reaches a valuation of $700 million, which is an exciting development for one of the UK’s leading fintechs and is on its path to gain the ‘unicorn status. The long-term investment in ClearScore will help the company accelerate the growth of its business globally by expanding its team, product suite, and customer base.
Besides this, Benjamin Tsai of Invus Opportunities will join the ClearScore board with co-founders Nigel Morris remaining as Chairman and Justin Basini continuing as Chief Executive.
Justin Basini, co-founder and CEO of ClearScore said “We welcome Invus Opportunities to the board and look forward to working with their team as we continue to grow ClearScore in the UK and internationally. As one of the only profitable UK fintech businesses 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. 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.”
Benjamin Tsai commented, “We partner best with ambitious companies who are committed to making a positive impact on the lives of their customers. For us, ClearScore does this exceptionally well, as evidenced by their innovative product offering and ever-growing user base. We see huge potential in the business, already sustainable and profitable, and are excited to be involved in the ClearScore journey.”
Growth through pandemic
Founded in 2015 by Justin Basini, Nigel Morris and Dan Cobley gives everybody access to their credit score and report for free, forever. ClearScore uses data every step of the way to ensure that users see the most relevant financial products for them, giving them the tools to manage their finances in a way that suits them.
The London-based company has been growing since its debut and emerged out of the COVID crisis with an evolving suite of innovative products. Currently, ClearScore serves over 14 million customers worldwide, on three continents.
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