ClearScore, a London-based startup specializing in credit scoring services, has secured €36.1 million in debt financing from its primary backer, HSBC.
The funding, provided by HSBC Innovation Banking UK, follows an initial investment in the startup back in 2017.
According to ClearScore’s CFO, Brian Cole, the funds will be utilized to “expand the range of products we can offer users and the channels through which we can reach them.”
Founded in 2015, ClearScore launched an app designed to help consumers better manage their credit scores. Since then, the company has focused on developing a data-driven credit marketplace and open banking services aimed at the credit market.