London-based The ClearScore Group, a global FinTech and data-driven financial marketplace, has secured €36.1 million in debt financing from HSBC Innovation Banking UK to drive further business growth across domestic and international markets.
This funding marks the latest chapter in the partnership between ClearScore and HSBC Innovation Banking UK, which began in 2017. Over the past eight years, HSBC Innovation Banking has provided financing to support ClearScore’s growth objectives, playing a vital role in its global expansion.
Brian Cole, Chief Financial Officer at the ClearScore Group, commented: “As a profitable fintech operating at global scale, we’re in a good spot 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.”
Co-founded in 2015 by Justin Basini, The ClearScore Group began with the launch of the ClearScore app to help users achieve greater financial wellbeing. Since then, it has expanded to include a second data-driven marketplace (DriveScore) and an open banking services business optimised for use in credit marketplaces (D•One).
By signing up, users can monitor their credit score and report, receive personalised insights, and explore tailored credit offers without impacting their credit rating. The platform also provides tools like ‘Credit Health’ for a comprehensive view of one’s financial status and ‘Protect’ for monitoring potential identity theft by scanning the dark web and alerting users to suspicious activity.
The Group has grown rapidly to serve over 24 million users across the UK, South Africa, Australia, Canada and New Zealand. The Group has over 19 million users and partners with over 160 financial institutions around the world, including work with over 90 industry-leading lenders.
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.”
One example in which the growth capital has been used is to enable ClearScore to execute on its M&A strategy with the recent acquisition of Manchester-based credit marketplace supplier Aro Finance, expanding ClearScore’s secured loan offering and paving its entry into embedded finance.
Read the orginal article: https://www.eu-startups.com/2025/02/clearscore-secures-e36-1-million-to-fuel-next-phase-of-growth-and-product-offering/
