ClearScore Group, the fintech marketplace best known for its credit score and reporting service, is accelerating its entry into the mortgage industry with a new acquisition.
The company has acquired Acre Platforms Limited, a London-based technology solutions provider to the mortgage industry.
Acre’s technology will power ClearScore’s mortgage strategy, allowing it to route demand for mortgages from its users to Acre’s broker ecosystem.
“ClearScore brings the brand, the reach, the user-permissioned data at scale and one of the most advanced, reliable and unique fintech stacks in the industry,” said Justin Basini, co-founder and chief executive of the ClearScore Group.
“Combine that with Acre’s leading CRM platform for intermediaries, and you have an exciting set of technology platforms , data assets and APIs spanning unsecured credit, auto finance and now mortgages.
“The acquisition allows us to accelerate our mortgage strategy with Acre technology powering our home lending business and helping us deliver compelling new experiences for our users.”
ClearScore will provide the home-buying tools to its UK user base, with plans to expand the mortgage platform into South Africa, Australia, New Zealand and Canada.
“Our mission has always been to simplify the mortgage journey, taking the pain out of the process so that consumers can get into their homes quicker,” said Justus Brown, chief executive of Acre.
“Our data-driven approach has led us to building a platform that’s transformed brokers’ businesses in the UK. Joining the ClearScore Group is an exciting next step in our evolution that allows us to accelerate our drive to become the leading tech platform for the mortgage industry.
