Global FinTech ClearScore Group has secured £30m in debt financing to drive further business growth across domestic and international markets.
The funding comes from HSBC Innovation Banking UK, which began its partnership with the acquisitive London-based group in 2017.
ClearScore says the investors have played a vital role in its global expansion. Its marketplace now helps over 24m users improve their financial wellbeing across the UK, South Africa, Australia, New Zealand and Canada.
“As a profitable FinTech operating at global scale, we have options when it comes to choosing how to invest for the next 10 years of growth,” said Brian Cole, CFO at the ClearScore Group.
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“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, added: “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.”
News of the investment comes after ClearScore’s acquisition of Manchester-based credit marketplace supplier Aro Finance in January.