A credit marketplace company in the United Kingdom this week unveiled its formal expansion into Canada.
ClearScore has established itself with an office in Toronto to offer greater transparency in credit scores and reports to the market through its free app.
With 17 million users worldwide, ClearScore is a market leader in the UK and South Africa and gaining traction in Australia. Canada marks ClearScore’s fourth market, with more than 30,000 users reported in the first month.
“We’re a business that is dedicated to helping our users improve their financial wellbeing, and we do that through transparency in credit reports and data-driven, personalized offers on credit cards, loans and mortgages to save people money,” Canadian general manager Tassie Milne stated.
ClearScore gives people access to their credit report to help them understand and improve their financial situation, as well as monitor for fraudulent activity through ClearScore Protect, an ID monitoring report that allows people to check that their passwords are not compromised on the dark web.
“As a user-first organization, the financial products that people see on our site are not influenced by commission from our partners; the offers are presented in a clear, straightforward manner with the user’s best interest in mind,” says Milne.
ClearScore helps people access, and save money on, credit cards, loans and mortgages by presenting them with a personalized recommendation on the best rates and rewards.
“We achieved phenomenal success in the UK and other markets, and now is a great time for us to help Canadians, with the cost of living posing a big issue for many Canadians, coast to coast,” Milne added.
ClearScore Canada is based in downtown Toronto with global headquarters in London, where it first launched in 2015. The company is actively hiring in Canada to grow its latest market.
“I am very pleased that ClearScore has chosen to locate its new office in our city, which will allow them to take advantage of our unmatched talent pipeline,” stated mayor John Tory.
As the cost-of-living crisis deepens, ClearScore Group CEO Justin Basini believes ClearScore “has a critical role to play in assisting people to make smarter financial decisions.”
“We are very excited to come to Canada at this time and bring our data-driven marketplace to a very dynamic and fast-moving credit market,” he added.
“A strong technology sector, resilient financial system, and quality pool of talent puts the Toronto Region on the global fintech map and I’m thrilled to welcome ClearScore to be a part of this dynamic ecosystem,” Tory affirmed.
The company is similar to some Canadian fintechs, such as Borrowell, also based in Toronto.
