TransUnion (NYSE:TRU) has signed a definitive agreement to acquire U.K.-based Monevo, a credit prequalification and distribution platform that empowers lenders and banks to deliver personalized credit offers to consumers via comparison sites and other third parties.
TransUnion currently owns 30% of the equity of Monevo after acquiring a minority stake back in 2021 and has agreed to “acquire the remaining ownership position from Quint Group Limited.”
Todd Skinner, President, International, TransUnion said:
“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.”
Monevo enables comparison websites and other online brands known as publishers to embed “personalized credit offers, predominately in the U.K. and U.S. markets.”
Working with more than 150 banks and credit providers globally, it provides centralized tech and decisioning infrastructure which “integrates lenders and publishers, allowing them to deliver better outcomes for consumers searching for credit online.”
Those consumers are able to see the likelihood of being approved for credit products before “applying with lenders, saving time and removing unnecessary searches which potentially adversely impact their credit scores.”
Greg Cox, CEO of Quint Group and Monevo 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.”
Consumers, publishers and lenders all benefit from “improved experiences and economics by using Monevo’s platform.”
Consumers experience a more compelling and personalized online credit shopping experience, “receiving highly-tailored offers without impacting their credit score.”
Publishers 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.”
Steve Chaouki, President, U.S. Markets, TransUnion 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 terms of the transaction are “not being disclosed.”
The transaction 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.”
The transaction is expected to close by Q2 2025, subject “to the satisfaction of customary closing conditions and regulatory approvals.”
As covered, TransUnion is a global information and insights company with over “13,000 associates operating in more than 30 countries.”
They make trust possible by ensuring each person is “reliably represented in the marketplace.”
They do this with a Tru picture of each person: an “actionable view of consumers, stewarded with care.”
Through acquisitions and technology investments they have developed innovative solutions that extend “beyond their strong foundation in core credit into areas such as marketing, fraud, risk and advanced analytics.”
As a result, consumers and businesses can transact “with confidence and achieve great things.”
They call this Information for Good — and it leads to economic opportunity, great experiences and “personal empowerment for millions of people around the world.”