ClearScore plans to use the funding to innovate and strengthen its product offerings. Here are the top-line bullets you need to know.
ClearScore, a credit-scoring fintech company, has raised $200M with participation from Invus Group.
HOW’S THE COMPANY PERFORMING?
- London-based ClearScore is a fintech marketplace that helps consumers find credit cards and loans tailored to their credit scores.
- It reportedly caters to 14M customers (11M in the UK alone), with operations spanning 3 continents – Australia, Europe, and Africa.
WHY DOES THE MARKET MATTER?
- The global credit services market is expected to grow at a CAGR of 5.35% to reach a value of $17.14B by 2027 according to Marketresearch.com.
- There is a growing demand for easy processes in individual credit cases management, capital management, and real-time pricing. At the same time, minimizing firm-wide risks through consistency, automation, and transparency has evolved.
- The rise in the adoption of several online banking technologies is driving banks to offer their products through an online platform by avoiding the necessity to build open banking capabilities in-house.