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Experian has acquired Clearscore, a young London-based fintech company, in a deal worth £275 million. Clearscore, which was launched in July 2015, offers more than six million UK customers free credit checks. It makes money from products it sells to customers who get credit checks and said it was on track to generate revenue of £39 million this year.
If cleared, the takeover represents one of the biggest tech exits in the UK for years and a huge win for the UK's fintech sector. A report last year from innovation consultancy Mind the Bridge found the average UK tech exit since 2010 was $75 million, meaning the ClearScore deal is around five times bigger than average. ClearScore was founded in July 2015 and was the first company to provide totally free credit checks and scores to consumers in the UK. The business makes money from commission on products sold to customers who get their checks done.
http://www.businessinsider.com/experian-buying-clearscore-for-275-million-2018-3?r=UK&IR=T
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