Credit-checking firm ClearScore, is set to be acquired by global consumer credit experts, Experian, in a deal worth £275 million.
ClearScore is led by Justin Basini, who won the national Scale-Up Entrepreneur of the Year prize at the 2017 NatWest Great British Entrepreneur Awards. That came after winning the same category and overall award for the London and the South East.
In the three years since launch, ClearScore has provided for 5.6 million customers across the UK and South Africa; growth which has secured its position in the marketplace as Britain’s number one credit-checking service.
In a blog commenting on the deal, Justin said: “At ClearScore, we are focused on you, our user, and this won’t change. You will always be able to see your credit report and score for free, forever with ClearScore. We will continue to innovate and focus on giving you the knowledge you need to make better financial decisions and make the process of choosing financial products radically quicker, simpler and easier. We will continue to operate under the brand ClearScore.
“I believe that this acquisition will allow us to grow faster and develop exciting new innovations that will deliver improved financial well-being to you, our current users, in the UK and South Africa, and hopefully millions more around the world.”
Experian chief executive, Brian Cassin, said: “In acquiring ClearScore, we will take another important step in our strategy to extend the services we provide to UK consumers. Our goal is to provide more choice and greater convenience to individuals who want access to personal financial products at the best prices, while also making it easier for credit providers to offer better, more tailored offers to consumers.
“We look forward to welcoming the ClearScore team to Experian and to including the ClearScore brand as part of our broader offer.”