ClearScore secures £30m in debt financing from HSBC Innovation Banking to fund international expansion
The London fintech has secured fresh capital from HSBC Innovation Banking to fuel its international expansion and M&A strategy.
London-based fintech that provides free credit scores, reports, and financial marketplace services to millions of consumers globally.
ClearScore has secured £30m in debt financing from HSBC Innovation Banking UK to support its ongoing international expansion and product development initiatives. The transaction builds on a banking relationship that began in 2017 to back the company's global growth strategy.
The capital arrives as ClearScore pursues a broader corporate strategy involving mergers and acquisitions, highlighted by its recent purchase of Aro Finance to enter the embedded finance sector. Operating across multiple international markets, the fintech platform connects over 24m users with financial products from more than 160 institutions.
Executives noted that the funding provides additional flexibility for long-term investments in product breadth and distribution channels. HSBC Innovation Banking praised the firm's trajectory as a leading player in the UK technology ecosystem.
From the founder
"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."
Brian Cole
Chief Financial Officer at ClearScore
Investor perspective
"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."
Nick Conway
Director, FinTech Coverage, HSBC Innovation Banking
Use of funds
- 01Expand into international markets
Investors
Categories
About the company
ClearScore
ClearScore operates a financial marketplace that gives consumers free access to credit scores and tailored financial products.