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ClearScore Secures £30 Million in Debt Financing for Global Expansion

In an exciting development for the financial technology sector, ClearScore, a prominent player in the data-driven financial marketplace, has successfully obtained £30 million in debt financing from HSBC Innovation Banking UK. This substantial funding marks a pivotal step in ClearScore’s strategy to broaden its presence in both domestic and international markets.

This latest round of funding further cements the enduring collaboration between ClearScore and HSBC Innovation Banking UK, a partnership that dates back to 2017. Over the past eight years, HSBC has been instrumental in providing the necessary capital to fuel ClearScore’s growth on a global scale, allowing the company to refine its product offerings and enhance its services.

Currently, ClearScore is dedicated to improving the financial wellbeing of more than 24 million users across multiple countries, including the UK, South Africa, Australia, New Zealand, and Canada.

ClearScore operates a robust financial marketplace that empowers consumers to effortlessly check their credit scores and compare various financial products to find the best options for their needs.

The newly acquired funds are set to propel ClearScore into its next growth phase, enabling the expansion of its financial product range and enhancing the accessibility of these offerings to users.

Brian Cole, CFO of ClearScore, remarked, “As a profitable FinTech operating on a global scale, we are well-positioned to make strategic investments that will drive our growth over the next decade. This funding facilitates the diversification of products we can offer and the enhancement of channels to reach our users. HSBC Innovation Banking has been a crucial strategic ally, allowing us to accelerate our growth and establish ourselves as one of the leading fintech brands in the UK.”

Adding to the excitement, Nick Conway, director of FinTech coverage at HSBC Innovation Banking UK, stated, “ClearScore has been an invaluable long-term partner for us, and we are delighted to

support their ongoing growth with this financial backing. We eagerly anticipate continuing our partnership as they work to revolutionize how people approach their financial health. This partnership exemplifies how HSBC Innovation Banking empowers our UK FinTech clients to achieve ambitious goals, scale their operations, and create innovative, world-class businesses.”