TransUnion announced it has signed a definitive agreement to buy U.K.-based Monevo, a credit prequalification and distribution platform that enables lenders and banks to deliver highly personalized credit offers to consumers via comparison websites and other third parties. And TransUnion currently owns 30% of the equity of Monevo after acquiring a minority stake in 2021 and has agreed to acquire the remaining ownership position from Quint Group Limited.
Monevo enables comparison websites and other online brands known as publishers to embed highly personalized credit offers, especially in the U.K. and U.S. markets. Working with 150+ banks and credit providers globally, it provides centralized technology and decisioning infrastructure that integrates lenders and publishers.
This enables them to deliver better outcomes for consumers searching for credit online. These consumers can see the likelihood of being approved for credit products before applying with lenders, saving time and removing unnecessary searches that potentially adversely impact their credit scores.
Consumers, publishers, and lenders benefit from improved economics and experiences by using Monevo’s platform. Consumers experience a more compelling and personalized online credit shopping experience, receiving highly-tailored offers without impacting their credit scores. Publishers also gain the tools to win lender trust and delight consumers with more personalized engagement and successfully matched offers, leading to higher conversion rates. Lenders can minimize adverse selection and optimize acquisition costs while delivering an improved consumer experience for their brand.
The terms of the deal were undisclosed. The deal is expected to be funded with existing cash-on-hand and not to have a material impact on leverage, liquidity or TransUnion’s 2025 operating results. And the transaction is expected to close by Q2 2025, subject to the satisfaction of customary closing conditions and regulatory approvals.
KEY QUOTES:
“We are committed to making trust possible in global commerce by ensuring consumers and organizations can transact with confidence. Prequalification is an integral part of the consumer lending process. It drives financial inclusion and responsible lending by helping consumers find more suitable products in less time.”
– Todd Skinner, President, International, TransUnion
“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.”
– Greg Cox, CEO of Quint Group and Monevo
“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.”
– Steve Chaouki, President, U.S. Markets, TransUnion
