Strategic investor Invus Opportunities partners with profitable UK consumer finance company ClearScore to accelerate expansion
Invus Opportunities, the global equity investor, has made a substantial, long term investment in ClearScore, the UK’s leading credit marketplace, to accelerate the growth in the business globally. ClearScore currently serves over 14 million customers worldwide, on three continents.
This investment totalling $200m, at a valuation of $700m, is an exciting development for one of the UK’s leading fintechs, that has supported millions of customers over the last 6 years especially through the pandemic. ClearScore has long standing profitability and is coming out of the COVID crisis with an evolving suite of innovative products. This investment will accelerate ClearScore’s ongoing investments to expand its team, product suite, and customer base globally.
Invus Opportunities is an investment firm that specifically takes long term and significant positions in companies where they believe in both the management of the organisation and the fundamentals of the business, and where they can make a significant impact. The investment is a mix of primary and secondary, with existing investors – QED, Blenheim Chalcot and LeadEdge – together with management, retaining the majority of their positions in ClearScore, whilst allowing Invus Opportunities to take a significant minority position in the company.
The deal sees Benjamin Tsai of Invus Opportunities joining the ClearScore board, with co-founders Nigel Morris remaining as Chairman and Justin Basini continuing as Chief Executive.
Justin Basini, co-founder and CEO, ClearScore 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.”
Benjamin Tsai commented, “We partner best with ambitious companies who are committed to making a positive impact on the lives of their customers. For us, ClearScore does this exceptionally well, as evidenced by their innovative product offering and ever-growing user base. We see huge potential in the business, already sustainable and profitable, and are excited to be involved in the ClearScore journey.”
ClearScore is the UK’s number one free credit score and financial product marketplace. Founded in 2015 with the mission to help users take control of their financial health, ClearScore is the industry leader in giving everybody access to their credit score and report for free, forever. Winners of prestigious awards such as the Queen’s Award for Enterprise and featuring on The Sunday Times Best Companies to Work For list, ClearScore combines a team of industry experts, sophisticated algorithms, and clever tech with a trustworthy brand. The result is a beautiful product that delivers an experience that is clear, calm, and easy to understand. ClearScore uses data every step of the way to ensure that users see the most relevant financial products for them, giving them the tools to manage their finances in a way that suits them. With over 11 million UK users, and a further 3 million worldwide, ClearScore constantly innovates to help their users on a journey to greater financial wellbeing. Co-founded by CEO, Justin Basini, ClearScore is based in London and is supported by investment from QED Investors, Blenheim Chalcot, Lead Edge Capital and now Invus Opportunities.
About Invus Opportunities
Invus Opportunities is a sister fund to The Invus Group, an equity investment firm founded in 1985 with over $8 billion of evergreen capital. Invus Opportunities is focused on partnering with market-leading management teams and investors in private transactions globally. With a differentiated heritage and capital base, Invus Opportunities brings a complementary dimension to growing companies and investor groups seeking to create lasting value. Invus Opportunities both leads rounds of financing and co-invests in syndicated financings, and currently manages over $2 billion.