Backers of a credit checking firm are celebrating a bumper payday after it was sold to Experian for £275m.
Clearscore, which lets customers find out their credit score for free, was snapped up by the Dublin-based finance giant as it seeks to boost its online operations.
City slickers: The cash will be split between Clearscore’s management and its early backers
The cash will be split between Clearscore’s management and its early backers.
Three bosses at private equity company Blenheim Chalcot – founder Manoj Badale, 60, partner Mark Onyett, 46, and chief people officer Lara Legassick, 45 – look set for a payday of nearly £100m. Two other investment firms are on course for £112.5m.
Clearscore was founded just three years ago and already has more than 6m customers with a heavy focus on the highly prized under-30s age bracket.
It provides free access to credit scores with Experian’s rival Equifax. Experian is thought likely to expand the service to cover its own credit scores.