LONDON–(COMMERCIAL THREAD) – Invus Opportunities, the global equity investor, has made a substantial long-term investment in ClearScore, the UK’s leading credit marketplace, to accelerate the company’s growth at scale global. ClearScore currently serves more than 14 million customers worldwide, on three continents.
This investment totaling $ 200 million, at a valuation of $ 700 million, is an exciting development for one of the UK’s leading fintechs, which has supported millions of clients over the past 6 years, especially during the pandemic. ClearScore has long-standing profitability and is emerging from the COVID crisis with an evolving suite of innovative products. This investment will accelerate ClearScore’s ongoing investments to expand its team, product line and customer base globally.
Invus Opportunities is an investment firm that specifically takes long-term and meaningful positions in companies where they believe in both organizational management and business fundamentals, and where they can have a significant impact. . The investment is a mix of primary and secondary, with existing investors – QED, Blenheim Chalcot and LeadEdge – as well as management retaining the majority of their positions in ClearScore, while allowing Invus Opportunities to take a significant minority position in the society.
The deal sees Benjamin Tsai of Invus Opportunities join ClearScore’s board of directors, with co-founders Nigel Morris remaining as chairman and Justin Basini as chief executive.
Justin Basini, Co-Founder and CEO of ClearScore said: “We welcome Invus Opportunities to the Board of Directors 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 companies operating on a full scale, we didn’t need to raise funds, but instead chose to partner with Invus. We made this decision as a team due to Invus ‘track record of working long term strategic with their companies to recognize global opportunities, while I was incredibly impressed with Invus’ insight and look forward to to work closely with them to deliver our vision, that ClearScore will become an indispensable financial partner for millions of additional users around the world.
Benjamin Tsai commented: “We work best in partnership with ambitious companies that are committed to having a positive impact on the lives of their customers. For us, ClearScore does it exceptionally well, as evidenced by their innovative product offering and ever growing user base. We see enormous potential in the already sustainable and profitable business and we are delighted to be part of the ClearScore adventure. ”
ClearScore is the number one market for free credit scores and financial products in the UK. Founded in 2015 with a mission to help users take control of their financial health, ClearScore is the industry leader in giving everyone access to their credit score and report for free, forever. Winners of prestigious awards such as the Queen’s Award for Enterprise and featured on the Sunday Times’ list of the best companies to work for, ClearScore combines a team of industry experts, sophisticated algorithms and smart technology with a trusted brand. The result is a beautiful product that offers a clear, calm and easy-to-understand experience. ClearScore uses data every step of the way to ensure that users see the financial products most relevant to them, giving them the tools to manage their finances in a way that’s right for them. With over 11 million users in the UK and another 3 million around the world, ClearScore is constantly innovating to help its users on their journey to greater financial well-being. Co-founded by CEO Justin Basini, ClearScore is based in London and is backed by investments from QED Investors, Blenheim Chalcot, Lead Edge Capital and now Invus Opportunities.
About Invus Opportunités
Invus Opportunities is a sister fund of The Invus Group, an equity investment firm founded in 1985 with over $ 8 billion in permanent capital. Invus Opportunities focuses on partnering with management teams and market-leading investors in private transactions on a global scale. With a differentiated asset base and capital base, Invus Opportunities brings a complementary dimension to growing companies and investor groups seeking to create sustainable value. Invus Opportunities leads both fundraising rounds and co-invests in syndicated fundings, and currently manages over $ 2 billion.