TotallyMoney Acquired by Manchester FinTech Group
Deal News | Jan 14, 2025 | Business Cloud
Manchester-based Intelligent Lending, the parent company of CredAbility and Ocean, has acquired TotallyMoney, a London-based credit score and personal finance app. The acquisition, aimed at expanding Intelligent Lending's reach and capabilities, will grow the group's workforce to 250 across multiple locations, including Manchester, London, Cyprus, and Italy. TotallyMoney, known for its focus on financially underserved individuals, aligns well with Intelligent Lending's mission to improve financial wellbeing through technology and personalized financial solutions. The acquisition supports the group's international expansion plans, targeting several new markets. Financial details were not disclosed.
Sectors
- Financial Technology (FinTech)
- Financial Services
Geography
- United Kingdom – The acquisition involves two UK-based companies, Manchester-based Intelligent Lending and London-based TotallyMoney, primarily serving the UK market.
Industry
- Financial Technology (FinTech) – The central focus of the article is on the acquisition of a FinTech company, TotallyMoney, by Intelligent Lending, which also operates in the FinTech sector.
- Financial Services – Both companies involved provide financial services, including personal finance products, credit scoring, and financial wellbeing services.
Financials
- 65m+ funding for TotallyMoney – The cumulative funding amount received by TotallyMoney before acquisition.
- 9m growth funding in 2021 – The last funding round raised by TotallyMoney in 2021.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Intelligent Lending | Bidding Company | Company | A Manchester-based FinTech group that owns CredAbility and Ocean, focused on improving financial wellbeing. |
| TotallyMoney | Target Company | Company | A London-based credit score and personal finance app dedicated to serving financially underserved individuals. |
| Simon Kay | Chair | Person | Chair of Intelligent Lending, involved in expressing the strategic direction following the acquisition. |
| Alastair Douglas | CEO | Person | CEO of TotallyMoney, providing remarks on the synergies and future prospects with Intelligent Lending. |