By Oliver Smith on Monday 15 April 2019
The news comes after ClearScore’s £275m sale to Experian fell apart in February.
American finance giant Credit Karma has officially completed its acquisition of credit scoring upstart Noddle, and is embarking on a hiring spree in London and Leeds.
Karma also announced that the Noddle brand will be replaced by Credit Karma in the coming weeks as the company also starts pulling down Noddle’s paywalls to better mirror its US offering.
Karma’s cofounder Nichole Mustard has also relocated to the UK in order to oversee the expanding operations.
“Now that the deal has closed, we can get to the real work of championing financial progress for our members in the UK,” said Mustard.
“To do this, we’re investing heavily in our in-market offering and scaling up significantly. We’re looking to triple the team in the UK and open new offices in Leeds and London.”
He added: “If the regulator chokes off an exit route for owners, then it also chokes off appetite to start a business in the first place.”
With Credit Karma, valued at $4bn during its last funding round, now operating in the UK, competition in the credit scoring space looks set to soar.