Dan Cobley has co-founded ClearScore, which opened to the public today. His fintech company builder Brightbridge is putting £10 million into the business.
Credit scoring is one of the most interesting areas of Fintech in my opinion (disclaimer : I am on the advisory board of Trusting Social).
In the same way that Google or Facebook monetize data by selling targeted ads, credit scoring is the equivalent in finance – but in a much more powerful way, because it involves financial data. So it’s clearly not a surprise to see an ex Google launching a startup in that space.
At the moment, ClearScore seems to be similar to Credit Karma – helps users to improve their credit score – but it wouldn’t be surprising that the long-term plan is about monetization of financial data