Venture Funded Business of the Year 2016
Start-up name: ClearScore
Founder: Justin Basini
Started in: July 2015
Based in: London
Business description: Credit scoring service
Launched with an initial funding injection of £10m, credit scoring service ClearScore has grown to 2.5 million users and has amassed an army of fans – which now includes the Startups Awards judges who named ClearScore Venture Funded Business of the Year 2016.
Unlike other services that charge consumers a fee, ClearScore allows users to access their credit report for free to help them monitor their financial situation. Instead of fees, the start-up monetises the service through the promotion of loans and credit cards tailored to customers’ needs.
ClearScore has continued to innovate with the launch of an app in December 2015, which remains in the top 10 free finance apps in the iTunes store alongside a “UK-first” AppleWatch app.
In June this year the business released a timeline feature, enabling customers to see how their credit score has changed over time and chart relationships between different aspects of their personal finances such as their score, long term and short term debt.
Boasting an average of 10,000 new sign-ups every day, ClearScore’s growth shows no sign of slowing down, with plans to expand into international markets.
With the Startups Awards overall winner Onfido awarded highly commended and HECK Food – the sausage company with multi-million pound revenues – commended by the judges, ClearScore took on stiff competition.