Deal completed to acquire credit prequalification and distribution platform

Global insights and information company, TransUnion, has completed its acquisition of Monevo from Quint Group Ltd.

It follows confirmation in January that TransUnion had signed a definitive agreement to acquire UK-based Monevo. The terms of the deal, which was funded via existing cash-on-hand, have not been disclosed.

Monveo is a credit prequalification and distribution platform, which empowers lenders and banks to deliver highly personalised credit offers to consumers via comparison websites and other third parties.

TransUnion, which has its UK base in Leeds, had previously held 30% of the equity of Monevo after acquiring a minority stake in 2021.

Steve Chaouki, president, US Markets, TransUnion, said: “We anticipate Monevo’s platform will enhance our portfolio and our proposition to lenders.

“Prequalification, or eligibility, is critical to the consumer lending process, which supports our mission to make trust possible in global commerce and helps us to deliver on our wider goal of using Information for Good.”

Monevo’s platform enables comparison websites and other online brands known as publishers to embed highly personalised credit offers, predominantly in the UK and US markets.

Working with over 150 banks and credit providers globally, Monevo’s centralised technology integrates lenders and publishers, allowing them to deliver better outcomes to consumers who are searching online for credit offers.

Consumers are able to see their likelihood of being approved for credit products before applying with lenders, instilling confidence and removing unnecessary searches that have the potential to impact their credit scores adversely.

Madhu Kejriwal, regional president, TransUnion UK & Europe, said: “Monevo’s proposition enables credit distribution for some of the world’s largest banks and lenders, supporting our aim to improve access to credit for consumers.

“We expect the acquisition will further enable publishers and lenders to benefit from improved economics, while consumers experience a more compelling and personalised online credit shopping experience – receiving tailored offers that won’t impact their credit scores.” 

Greg Cox, founder & CEO of Quint Group and Monevo, added: “Today Monevo powers credit distribution for some of the world’s largest banks and lenders, achieved through a world-class technology platform and powerful, mutually beneficial relationships in both the US and UK markets.

“This acquisition is the natural next step for Monevo. With TransUnion, we expect the business will be able to leverage new resources and access new markets, allowing it to continue to realise its potential and improve access to credit on a global scale.”

Jonathan Ross and Harry Hobson, from Squire Patton Boggs, advised TransUnion on the deal.