TransUnion has agreed to acquire the remaining ownership stake in UK-based credit prequalification and distribution platform Monevo, from Quint Group.
Financial details of the transaction were not revealed.
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TransUnion already owns a 30% equity stake in Monevo, secured after an initial undisclosed investment in 2021.
This move will offer information and insights company TransUnion complete ownership of Monevo, enhancing its ability to deliver customised credit offers to consumers through various online channels.
The deal is due to be finalised by the second quarter of 2025, pending the fulfilment of standard closing conditions and regulatory approvals.
TransUnion will fund the acquisition using its existing cash reserves. The company does not project a material impact on its leverage, liquidity, or operating results for 2025 from the deal.
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By GlobalDataMonevo allows comparison websites and other online brands known as publishers to embed tailored credit offers. The company operates in the UK, US, Poland, and Australia.
TransUnion US Markets president Steve Chaouki said: “Over the last three years, our partnership with Monevo has helped address gaps in the consumer experience. Together, we plan to deliver high-quality offers at scale with minimal support needed from our partners.”
“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 platform collaborates with over 150 banks and credit providers worldwide, offering a centralised technology and decisioning infrastructure.
This integration between lenders and publishers facilitates better outcomes for consumers seeking credit online.
This enables users to assess their approval odds for credit products before officially applying, thus saving time and protecting their credit scores from potential negative impacts.
The benefits of using Monevo’s platform extend to all parties involved. Consumers get a more tailored online credit shopping experience, receiving offers that do not affect their credit score.
Publishers are equipped with tools to build lender trust and provide consumers with more engaging and accurately matched offers, which leads to higher conversion rates.
Lenders, on the other hand, can reduce adverse selection and optimise acquisition costs while offering an enhanced consumer experience under their brand.
Quint Group and Monevo CEO Greg Cox said: “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.”
“This acquisition is the natural next step in Monevo’s future growth and success, and would unlock new opportunities to innovate by uniting these two complementary businesses, whose values are already strongly aligned.”
