TransUnion Acquires Cheshire FinTech Monevo for Growth in Credit Prequalification
Deal News | Apr 01, 2025 | Business Cloud
US-based credit reporting company TransUnion has successfully completed the acquisition of Cheshire-based FinTech company Monevo. Monevo is renowned for its credit prequalification platform that aids lenders and banks in providing personalized credit offers to consumers via comparison websites. Previously, TransUnion owned 30% of Monevo's equity, which it had acquired in 2021, and now it has acquired the remaining stake from Quint Group Limited. This strategic acquisition is expected to bolster TransUnion's offerings in consumer lending processes by providing an enhanced platform to lenders. Monevo, which collaborates with over 150 banks globally, aims to improve credit distribution outcomes by integrating lenders and publishers under its centralized platform. By joining forces with TransUnion, Monevo aims to access new resources, further unlocking global market potential.
Sectors
- Financial Technology (FinTech)
- Credit Reporting
Geography
- United States – TransUnion, the acquiring company, is based in the US and operates globally in the credit reporting industry.
- United Kingdom – Monevo is headquartered in Cheshire, UK, and is a significant player in the UK and international FinTech spaces.
Industry
- Financial Technology (FinTech) – The article highlights the acquisition of a FinTech company, Monevo, which specializes in credit prequalification technology.
- Credit Reporting – TransUnion is a major player in the credit reporting industry, and the acquisition of Monevo will enhance its credit offers and lending decision-making processes.
Financials
- Undisclosed – The financial terms and the amount paid by TransUnion to acquire the remaining Monevo shares were not disclosed.
- 30% – The percentage of Monevo's equity previously owned by TransUnion before the acquisition of the remaining stake.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| TransUnion | Bidding Company | Company | A US-based credit reporting giant that now fully owns Monevo following this acquisition. |
| Monevo | Target Company | Company | A FinTech company providing a credit prequalification platform, headquartered in Alderley Park, Cheshire. |
| Quint Group Limited | Selling Company | Company | The parent company of Monevo, from which TransUnion acquired the remaining shares. |
| Steve Chaouki | Executive | Person | President of US markets at TransUnion, commented on the acquisition of Monevo. |
| Greg Cox | Executive | Person | Founder & CEO of Quint Group and Monevo, highlighted Monevo's future potential with TransUnion. |