Latest news with #ClearScore
The Herald Scotland
2 days ago
- Business
- The Herald Scotland
Glasgow's Minerva up for Great British Entrepreneur Awards
Mr Pearce said: 'It's an incredible honour to be recognised alongside some of the UK's most exciting and ambitious businesses and is testament to the hard work of our team and the high standards we set ourselves to deliver sources of R&D funding, namely tax relief, for our clients.' The shortlist for this year's Great British Entrepreneur Awards, dubbed the 'Grammys of Entrepreneurship', includes more than 800 entrepreneurs, who have been recognised for their innovation, impact, and resilience. Previous winners include BrewDog, Grenade, ClearScore, Zilch, and Unbiased. Read more: Minerva's R&D tax consultants deal mainly with small and medium-sized businesses, with a diverse client base in sectors such as veterinary medicine and livestock farming, racehorse breeding, architecture, construction and engineering. Mr Pearce, who won the SME News Business Elite Awards for the second time running in 2024, added: 'Our expertise comes from understanding the finance and the complex processes around research funding regulations. So many different businesses can benefit from R&D grants and tax relief without having to spend all their business hours on R&D. 'Short-term initiatives to improve the delivery of services or the development of goods also qualify under the legislation if there is an 'appreciable' improvement. It doesn't have to be significant and is not limited to laboratories or scientists. 'On average, our clients can generate cash benefits equal to 2.72% of their turnover and 7.30% of their wage bill.' The winners of the Great British Entrepreneur Awards will be announced at a ceremony at London's Grosvenor House on Monday November 17.
Sky News
13-05-2025
- Business
- Sky News
Treasury holds talks with fintech unicorns about London IPO prospects
The City minister is intensifying efforts to convince some of Britain's most valuable financial technology companies to list in London as 'unicorns' including Monzo step up preparations to go public. Sky News that Emma Reynolds, economic secretary to the Treasury, met executives from businesses such as ClearScore, Monzo, OakNorth and Revolut on Tuesday morning. Antony Jenkins, the former Barclays chief executive who founded 10x Banking Technologies, a banking software provider, also attended the meeting, alongside Dame Julia Hoggett, chief executive of the London Stock Exchange and Simon Walls, an executive at the Financial Conduct Authority. The summit comes amid a desperate quest by the LSE to attract prominent new listings, with leading tech names including Deliveroo and the cybersecurity software group Darktrace both having been the subject of takeover bids. Last weekend, Sky News revealed that Monzo - now the UK's seventh-largest bank - was in the early stages of lining up investment bankers to work on an initial public offering. Morgan Stanley has been helping the company organise meetings with potential investors ahead of a flotation which could value it at £7bn. London currently appears to be the favoured choice of its board for a listing, with the first half of next year seen as the earliest window for an IPO to take place. Revolut, which was most recently valued at $45bn in a secondary share sale, is viewed as being more likely to list in New York in the coming years. A Treasury spokesperson said: "We are determined to make Britain the best place in the world to start up, scale up and list. "That's why we are cutting red tape, ensuring businesses can access the capital they need to grow and supporting the country's most exciting companies to thrive through our industrial strategy."
Yahoo
28-02-2025
- Business
- Yahoo
ClearScore secures $38m to undertake growth initiatives
ClearScore Group, a fintech based in London, has obtained €36.1m ($37.8m) in debt financing from HSBC Innovation Banking UK. This financing will help bolster the company's growth initiatives across both domestic and international markets. ClearScore and HSBC Innovation Banking UK, a part of HSBC, have been collaborating since 2017, with the bank playing a significant role in ClearScore's global expansion over the last eight years. This latest round of funding is a continuation of their partnership, aimed at furthering ClearScore's reach and product offerings. ClearScore Group chief financial officer Brian Cole said: 'As a profitable fintech operating at global scale, we have options when it comes to choosing how to invest for the next ten years of growth. 'This funding allows us to expand the range products we can offer our users and the channels through which we can reach them. HSBC Innovation Banking has been a key strategic partner to enable us to scale at pace and become one of the UK's leading fintech brands.' Founded in 2015, ClearScore launched with an app designed to enhance financial wellbeing for users. The app allows individuals to check their credit score and report, gain personalised financial insights, and access customised credit deals without affecting their credit rating. The platform also features tools such as 'Credit Health' for a detailed financial overview and 'Protect' for dark web monitoring to prevent identity theft. Since its inception, the group has experienced rapid growth, now serving over 24 million users across five countries, including the UK, South Africa, Australia, Canada, and New Zealand. ClearScore has also diversified its services with DriveScore, a data-driven marketplace, and D•One, an open banking service tailored for credit marketplaces. Recently, ClearScore acquired Aro Finance, a Manchester-based credit marketplace supplier. This deal has expanded ClearScore's secured loan offerings and marked its entry into embedded finance. In 2022, the company acquired Moneyboard, an online personal financial management service. HSBC Innovation Banking UK FinTech Coverage director Nick Conway said: 'ClearScore has been a valued long-term partner, and we're thrilled to have been able to support their growth with this financing. 'We look forward to continuing our collaboration as they continue to transform the way people manage their financial health. This is a great example of how HSBC Innovation Banking helps our UK FinTech clients achieve their ambitions, scale and build world class, innovation driven businesses.' In February 2024, ClearScore released a whitepaper that stated the UK non-prime lending market contracted by more than a third (34%) since 2019, while unsecured loans from unregulated lenders have risen significantly. "ClearScore secures $38m to undertake growth initiatives" was originally created and published by Retail Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
