EuroDirect founder launches new credit website
THE co-founder of the Callcredit business sold by Skipton Building Society for £100m last year is one of the main figures behind a new internet credit venture.
John Dobson and business partner Martin Cheek have launched Credit Jungle, a new website that looks to capitalise on opportunities created by the squeeze on consumer credit.
Mr Dobson co-founded EuroDirect in 1993 which was bought by Skipton Building Society five years later and eventually grew to become Callcredit Information Group. He remained with the company until his retirement last year.
He said: “I did the worst thing you can do when you first retire, I went on quite a few holidays and I quickly realised that if this was what life had to offer I wasn’t that keen.”
The new business looks to take advantage of the more cautious approach many lenders are now taking and the search for value on the part of borrowers.
Mr Dobson said: “We are more than a price comparison website because the most important thing that effects the loan you get is your credit score. The information customers provide us with enables us to accurately judge their credit circumstances.”
Users of the site are profiled and credit scored before being matched to lenders who fit their financial position. Consumers unable to access unsecured loans are offered secured options or, where appropriate, are directed towards debt management services. The service is free to consumers with Credit Jungle paid by lenders for referrals.
EuroDirect started life as a direct marketing company but evolved after its purchase by Skipton as Mr Dobson and co-founder Mike Green created the credit reference company that became Callcredit. A series of acquisitions saw the firm expand further before it was sold to private equity group Vitruvian in December.
Launching Credit Jungle represents something of a return to his business roots for Mr Dobson. “It is fantastic to be back in a company this size. When I started EuroDirect there were six people in it, when I retired there were something like 850 people employed by the company.
“I don’t want a repeat of that. I want us to stay small and perfectly formed.”
The new company has a staff of just seven based in Rawdon working with a series of other companies who provide expertise and services that together power the website.
