Fri, 08 Nov 2024 | BUSINESS NEWS
Credit risk technology group LendingMetrics is on the hunt for acquisitions after securing significant investment from private equity group LDC.
The Fareham based Fintech, led by co-founders chief executive Neil Williams and commercial director David Wylie, helps companies make automated and risk-based lending decisions via its software and data services.
As well as its Auto Decision Platform (ADP), its cloud-based software suite includes LendingMetrics Exchange (LMX), a proprietary multi-bureau credit referencing product, OpenBankVision (OBV), a bank statement data platform which helps clients to build accurate affordability profiles in real time, and DeeJoop, a proprietary credit data deduplication tool to standardise high velocity multi-bureau credit files.
LDC said its investment and strategic support would help the business scale its presence in the UK’s fast-growing decisioning software and data market. Indeed, according to Verified Market Research, the global decision-making software market is expected to rise steadily in the coming years to grow at a CAGR of about 23.5% from 2024 to 2031.
In particular LDC said the deal would help LendingMetrics accelerate new product development within its core financial services sector and expand its network of partners in its consultancy and data services division.
The backing will also enable LendingMetrics to explore complementary acquisitions and diversify its presence in new vertical industries.
The transaction was led by LDC investment director Oliver Schofield, investment manager Vera Kuehne and partner and head of South West and Wales Dewi Hughes.
Williams said: "We’re extremely proud of what we’ve achieved in the last 14 years. With the support of LDC we can invest for further growth, especially in our R&D team. Our aim is to bring an expanding suite and capability of risk solutions and data services to more businesses and sectors, while preserving the agility, independence and focus on client value and service that have made us successful to date."
Wylie added: “With LDC’s backing, we look forward to leveraging our market-leading position to scale the business and identify new market opportunities and partnerships."
LendingMetrics was advised by Sequence Advisers (corporate finance) and RWK Goodman (legal).
The transaction is subject to FCA approval.
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