ALDERLEY EDGE, Wednesday, 08 January 2025
Global insights and information company TransUnion has signed an agreement to purchase a majority ownership stake in Monevo from Quint Group. TransUnion already owned 30% of the equity of Monevo after acquiring a minority stake in 2021.
Monevo enables comparison websites and other online brands known as publishers to embed highly personalized credit offers, predominately in the U.K. and U.S. markets. Working with over 150 banks and credit providers globally, it provides centralized technology and decisioning infrastructure which integrates lenders and publishers, allowing them to deliver better outcomes for consumers searching for credit online. Those consumers are able to see the likelihood of being approved for credit products before applying with lenders, saving time and removing unnecessary searches which adversely impact their credit scores.
“I founded Monevo to improve access to credit for consumers through technology, and today it is powering credit distribution for some of the world's largest banks and lenders,” said Greg Cox, CEO of Quint Group and Monevo. “This acquisition is the natural next step in Monevo's future growth and success, and will unlock new opportunities to innovate by uniting these two complementary businesses, whose values are already strongly aligned.”
“We are committed to making trust possible in global commerce by ensuring consumers and organizations can transact with confidence,” said Todd Skinner, President, International, TransUnion. “Prequalification, or eligibility, is an integral part of the consumer lending process. It drives financial inclusion and responsible lending by helping consumers find more suitable products in less time.”
Consumers, publishers and lenders all benefit from improved experiences and economics by using Monevo’s platform. Consumers experience a more compelling and personalized online credit shopping experience, receiving highly-tailored offers without impacting their credit score. Publishers gain the tools to win lender trust and delight consumers with more personalized engagement and successfully matched offers, leading to higher conversion rates. Lenders can minimize adverse selection and optimize acquisition costs while delivering an improved consumer experience for their brand.
“Over the last three years, our partnership with Monevo has helped address gaps in the consumer experience. Together, we can deliver high-quality offers at scale with minimal support needed from our partners,” said Steve Chaouki, President, U.S. Markets, TransUnion. “Additionally, we continue to make good progress on broadening our value proposition and go-to-market strategy in the direct-to-consumer business and expect to have more to share in the coming quarters.”
The transaction is expected to close in Q2 2025 subject to the satisfaction of customary closing conditions and regulatory approvals.
About Monevo
Monevo is a multi-award-winning credit technology business, focused on improving access to credit. Our next generation platform and API empowers over 150 lenders and banks globally to seamlessly distribute and embed highly personalised credit offers through third party comparison websites and apps. Until completion of the acquisition announced today, Monevo is part of Quint Group. Monevo is headquartered in the UK and currently operates in the UK, US and Australia.
About TransUnion (NYSE: TRU)
TransUnion is a global information and insights company with over 13,000 associates operating in more than 30 countries. TransUnion makes trust possible by ensuring each person is reliably represented in the marketplace. TransUnion do this with a Tru™ picture of each person: an actionable view of consumers, stewarded with care. Through TransUnion’s acquisitions and technology investments they have developed innovative solutions that extend beyond their strong foundation in core credit into areas such as marketing, fraud, risk and advanced analytics. As a result, consumers and businesses can transact with confidence and achieve great things. TransUnion call this Information for Good® — and it leads to economic opportunity, great experiences and personal empowerment for millions of people around the world. http://www.transunion.com/business
