credit bureau trans union announced that it has agreed to acquire Monevo, a UK-based credit pre-qualification and distribution platform.
Monevo connects lenders and issuers and enables them to offer consumers tailored credit options online by incorporating credit offers through comparison websites and other online channels.
TransUnion already holds a 30% stake in the company and plans to acquire the remaining stake from Quint Group Limited.
Monevo’s platform brings together centralized technology and decision-making tools to simplify the credit reporting process for consumers in the UK and US.
By pre-screening applicants, users can assess the likelihood of being approved for a credit product without initiating potentially harmful credit checks, avoiding unnecessary searches and protecting their credit profile.
The platform connects issuers with more than 150 banks and credit providers around the world, delivering a personalized credit experience while increasing efficiency for lenders and issuers.
The acquisition is expected to close by the second quarter of 2025 and is subject to customary regulatory approvals. TransUnion said the transaction will be funded with existing cash and is not expected to be materially impactful to its 2025 financial results or impact the company’s leverage or liquidity.
Additionally, the acquisition is not expected to impact TransUnion’s leverage or liquidity.
“I founded Monevo to improve consumer access to credit through technology, and now we’re focused on credit distribution for the world’s largest banks and lenders.
This acquisition is a natural next step in Monebo’s future growth and success, and bringing together these two complementary businesses, which already have strong values alignment, opens up new opportunities for innovation. That’s it. ”
Greg Cox, CEO of Quint Group and Monevo, said:
“Over the past three years, our partnership with Monevo has helped us address gaps in the consumer experience. Together, we are delivering high-quality offers while minimizing the support required from our partners. We plan to offer it on a large scale.
Additionally, we continue to make good progress in expanding our value proposition and go-to-market strategy in our direct-to-consumer business and look forward to sharing more in the coming quarters. ”
Steve Chaoki, TransUnion’s president of the U.S. market, said:
Featured image credit: Edited from freepic
