ClearScore funding news – Credit Score Service Fintech ClearScore Raises £30Million in Debt Funding

Based in London, ClearScore, which has worked with HSBC since 2017, will use the financing to grow in the UK and internationally.

It said HSBC’s previous funding helped it acquire companies, including its recent purchase of Aro Finance, a credit marketplace supplier based in Manchester. This was ClearScore’s second acquisition after buying Moneyboard in 2022.

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The financing from HSBC also supported ClearScore in expanding its secured loan services and entering embedded finance. HSBC’s Innovation Banking division offers commercial banking services and support to innovative companies.

ClearScore, founded in 2015, has almost 24 million customers. It offers credit information and an online financial marketplace. The company is supported by investors like Blenheim Chalcott, Brightbridge Ventures, Lead Edge Capital, and QED. In a 2021 funding round, it was valued at around $700 million.

Brian Cole, CFO, ClearScore, said: “This funding allows us to expand the range products we can offer our users and the channels through which we can reach them. HSBC Innovation Banking has been a key strategic partner to enable us to scale at pace and become one of the UK’s leading fintech brands.”

About ClearScore

ClearScore helps users improve their financial wellbeing. It is the top platform for accessing financial data, including credit reports, scores, and Open Banking data. It also acts as a financial marketplace, partnering with many financial institutions in each of its markets.