ClearScore, a London-based fintech and data-driven financial marketplace, has secured £30 million in debt financing from HSBC Innovation Banking UK. This latest funding round will support the company’s continued expansion across domestic and international markets, reinforcing its mission to improve the financial well-being of millions of users.
ClearScore’s relationship with HSBC Innovation Banking UK dates back to 2017, with the bank playing a crucial role in financing the company’s global expansion. This latest debt financing continues that partnership, providing the capital necessary for ClearScore to scale further.
Accelerating M&A and embedded finance
A key area of investment for ClearScore has been its mergers and acquisitions strategy. The company recently acquired Manchester-based credit marketplace supplier Aro Finance, a move that strengthens its secured loan offerings and marks its entry into embedded finance. This acquisition aligns with ClearScore’s vision of integrating financial products seamlessly into consumer journeys, ensuring users have access to the right financial solutions when they need them.
Innovative financial marketplaces
Clearscore was founded in 2015 by Justin Basini, Nigel Morris and Dan Cobley, a former MD of Google UK. The fintech company provides free credit scores, reports, and financial product recommendations to consumers. It connects users with tailored credit cards, loans, and financial services based on their credit profiles.
Since the launch of the ClearScore app, the company has expanded its ecosystem to include:
- DriveScore – a data-driven marketplace that rewards responsible driving with better financial offers.
- D•One – an open banking service designed for use in credit marketplaces, leveraging consumer-controlled data to optimise financial product matching.
By combining intuitive design, advanced data analytics, and a cutting-edge technology stack, ClearScore has built high-growth financial marketplaces that connect users with relevant financial products. With over 160 financial institutions worldwide, the company consumers receive personalised financial solutions tailored to their needs.
ClearScore partners with over 160 financial institutions to match users with the right products at the right time. Operating in the UK, South Africa, Australia, Canada, and New Zealand, it serves over 24 million users, helping them improve their financial wellbeing.
Brian Cole, Chief Financial Officer at the ClearScore Group, commented: “As a profitable fintech operating at global scale, we have options when it comes to choosing how to invest for the next ten years of growth. This funding allows us to expand the range products we can offer our users and the channels through which we can reach them. HSBC Innovation Banking has been a key strategic partner to enable us to scale at pace and become one of the UK’s leading fintech brands.”
Nick Conway, Director, FinTech Coverage at HSBC Innovation Banking UK, commented: “ClearScore has been a valued long-term partner, and we’re thrilled to have been able to support their growth with this financing. We look forward to continuing our collaboration as they continue to transform the way people manage their financial health. This is a great example of how HSBC Innovation Banking helps our UK FinTech clients achieve their ambitions, scale and build world class, innovation driven businesses.”
