Total amount raised
$242.3 Millions
Latest funding date
02/01/2025
Location
ClearScore has successfully raised funds through multiple rounds, with its latest funding type being debt financing. The platform offers free credit scores, credit reports, and personalized financial product recommendations to consumers.
ClearScore's innovative approach to financial services has attracted a diverse group of investors, including HSBC Innovation Banking and Fair4All Finance. Keep reading to explore the intricacies of ClearScore's fundraising journey and the investors backing this fintech platform.
What Is ClearScore?
ClearScore, founded in 2014, is a fintech company based in London, England. The company was established by Dan Cobley, Justin Basini, and Nigel Morris.
Operating in the financial services industry, ClearScore provides free credit scores, credit reports, and personalized financial product recommendations. The company employs between 251 and 500 people and collaborates with over 90 industry-leading lenders.
How Much Funding Has ClearScore Raised?
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: June 1, 2015
- Lead Investors: Blenheim Chalcot
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the company and develop its initial product offerings.
- Series A
- Amount Raised: Not publicly disclosed
- Date: June 1, 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and expand the user base.
- Non-Equity Assistance
- Amount Raised: Not publicly disclosed
- Date: February 22, 2017
- Lead Investors: Future Fifty
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To gain strategic support and resources for growth.
- Private Equity Round
- Amount Raised: $200M
- Date: June 25, 2021
- Lead Investors: Invus Opportunities
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fuel international expansion and product development.
- Debt Financing
- Amount Raised: £3.4M
- Date: July 11, 2024
- Lead Investors: Fair4All Finance
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support business growth and enhance financial inclusion.
- Debt Financing
- Amount Raised: £30M
- Date: February 25, 2025
- Lead Investors: HSBC Innovation Banking
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To drive further business growth and expand product offerings.
Total Amount Raised: $200M + £33.4M
Current Valuation: Not publicly disclosed
Key Investors
- HSBC Innovation Banking
- Details: HSBC Innovation Banking is a division of HSBC that focuses on providing financial services and support to innovative and high-growth companies, particularly in the FinTech sector. They have been a strategic partner for ClearScore since 2017, providing multiple rounds of financing to support the company's growth and global expansion.
- Investment Focus Areas: FinTech, technology, high-growth companies
- Notable Investments: ClearScore
- Fair4All Finance
- Details: Fair4All Finance is an organization dedicated to increasing the financial resilience and wellbeing of people in vulnerable circumstances. They focus on supporting fair and affordable financial products and services.
- Investment Focus Areas: Financial inclusion, affordable credit, financial resilience
- Notable Investments: ClearScore
- Invus Opportunities
- Details: Invus Opportunities is a private equity firm that invests in companies across various stages of growth. They focus on long-term partnerships and value creation.
- Investment Focus Areas: Private equity, growth-stage companies, value creation
- Notable Investments: ClearScore
- Future Fifty
- Details: Future Fifty is a government-backed program that supports high-growth tech companies in the UK. They provide access to expertise, networks, and support to help companies scale.
- Investment Focus Areas: Technology, high-growth companies, scaling support
- Notable Investments: ClearScore
- Blenheim Chalcot
- Details: Blenheim Chalcot is a venture builder that invests in and builds digital businesses. They focus on creating and scaling companies across various sectors.
- Investment Focus Areas: Digital businesses, venture building, scaling companies
- Notable Investments: ClearScore
What's Next for ClearScore?
ClearScore is poised to capitalize on significant opportunities, including expanding its product offerings and entering new markets. With over 24 million users globally and partnerships with 160 financial institutions, the potential for growth is substantial. The recent acquisition of Aro Finance and entry into the embedded finance market further bolster its prospects.
Future fundraising opportunities are likely, given the strong relationship with HSBC Innovation Banking UK. This partnership has already facilitated substantial debt financing, and additional rounds could support further expansion and product development. ClearScore's strategic focus on data-driven financial marketplaces aligns well with current industry trends.
However, challenges such as integrating new acquisitions, navigating regulatory environments, and maintaining user trust and data security remain. Competition from other fintech companies and traditional financial institutions also poses a threat. Despite these hurdles, ClearScore's strategic initiatives and robust partnerships position it well for continued growth and success.
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