Personal finance and credit scoring platform ClearScore has secured a $200m investment from investment firm Invus Opportunities.
The investment will see Invus take a significant minority position within ClearScore, with Invus partner Benjamin Tsai joining the ClearScore board of directors. Following this investment, ClearScore now has an overall valuation of $700m.
Founded in 2015, ClearScore is a credit score and financial product marketplace that claims its mission is to help its users take control of their financial health, giving them access to their credit score and report for free. The company currently serves over 14 million customers worldwide across three different continents.
sAccording to ClearScore, it intends to use the funding for ongoing investments to expand its team, product suite and global customer base.
ClearScore CEO and co-founder Justin Basini 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 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. 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.”
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