Following this announcement, the EUR 36.1 million in debt financing aims to drive further business development, across both domestic and international markets.
In addition, the company is expected to continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
The investment marks an important step in the partnership between ClearScore and HSBC Innovation Banking UK, as the latter has provided financing to support ClearScore’s growth objectives in the past eight years. At the same time, the funding round will also allow the company to expand the range of products it can offer its users and the channels through which the firm can reach them.
ClearScore has expanded in order to include a second data-driven marketplace (DriveScore) and an Open Banking services business that was optimised for use in credit marketplaces (D•One). By signing up, customers are given the possibility to monitor their credit score and report, receive personalised insights, and explore multiple tailored credit offers without impacting their overall credit rating. The platform was developed in order to deliver tools like `Credit Health` for a comprehensive view of one’s financial stats, or `Protect` for motoring potential identity theft by scanning the dark web and alerting users to any kind of suspicious activity.
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