ClearScore hires JPMorgan to advise on £2bn IPO - report

(Sharecast News) - ClearScore has reportedly hired Wall Street bank JPMorgan to advise it on strategic options as it moves towards a possible stock exchange listing which could value it at about £2bn. According to Sky News, ClearScore has picked JPMorgan as its financial adviser, with a remit to work on inorganic acquisition opportunities as well as planning for a public debut of its shares.

ClearScore, a data-driven financial services platform which has its origins in credit-checking, has 26 million users, making it one of the UK's most significant home-grown fintech scale-ups. It matches users to credit cards, loans and car finance through the deployment of credit and affordability data.

The company, run by co-founder and chief executive Justin Basini, has a presence in the UK, South Africa, Australia, Canada and New Zealand.

In a statement issued to Sky, Basini confirmed JPMorgan's appointment, saying: "We are delighted to be working with JPMorgan on the next exciting phase of growth at the ClearScore Group.

"With strong growth and profitability we have huge opportunities which our bankers will contribute to as we continue to execute."

An initial public offering is seen as a logical medium-term option for ClearScore, although people close to the company told Sky there are no firm plans or timetable for it to go public. If it does eventually float, it is expected to be valued at between £1.5bn and £2.5bn.