ClearScore Secures £30m to Boost Global Expansion
Deal News | Feb 25, 2025 | Business Cloud
ClearScore Group, a global FinTech firm based in London, has raised £30 million in debt financing from HSBC Innovation Banking UK to support its ongoing domestic and international growth efforts. The partnership, which began in 2017, has been pivotal for ClearScore's expansion, currently aiding over 24 million users in various countries including the UK, South Africa, Australia, New Zealand, and Canada. The funding will extend ClearScore's product offerings and widen its reach, reflecting its strategy for the next decade of growth, as described by the company's CFO, Brian Cole. HSBC Innovation Banking, a key partner in facilitating ClearScore's rapid scaling, anticipates continuing its supportive role as ClearScore reshapes financial health management globally. The investment news follows ClearScore's recent acquisition of the Manchester-based credit marketplace supplier, Aro Finance.
Sectors
- FinTech
- Banking
Geography
- United Kingdom – ClearScore Group is based in London, and the funding comes from HSBC Innovation Banking UK, making the UK a primary geography of interest for the article.
- Global – ClearScore operates across multiple countries including South Africa, Australia, New Zealand, and Canada, emphasizing its global market presence.
Industry
- FinTech – The article centers around ClearScore Group, a company operating in the financial technology (FinTech) sector, which offers marketplace services to improve financial wellbeing.
- Banking – HSBC Innovation Banking UK is a banking institution providing debt financing, highlighting its involvement in the article as a financial backer.
Financials
- £30m – Debt financing provided by HSBC Innovation Banking UK to support ClearScore's global growth.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| ClearScore Group | Borrower and Target Company | Company | A global FinTech company focused on improving financial wellbeing through its marketplace, with operations in several countries. |
| HSBC Innovation Banking UK | Lender | Company | A banking firm providing £30m in debt financing to ClearScore, having been a strategic partner since 2017. |
| Aro Finance | Target Company in Recent Acquisition | Company | A Manchester-based credit marketplace supplier recently acquired by ClearScore. |
| Brian Cole | CFO | Person | Chief Financial Officer of ClearScore Group, commenting on the funding and growth strategy. |
| Nick Conway | Director, FinTech Coverage | Person | Director at HSBC Innovation Banking UK, involved in the ongoing partnership with ClearScore. |