The British finance sector has seen its first major M&A activity of 2025 as TransUnion, the huge American credit ratings agency, agrees terms to acquire UK credit tech firm Monevo.
TransUnion announced the takeover today (8 January), and though the firm has not fully disclosed the terms of the transaction it does expect closure by Q2 2025 subject to closing conditions and regulatory approvals.
The company has also detailed that the transaction will be funded with existing cash-on-hand, therefore it is not expected to have any material impact on leverage, liquidity or its 2025 operating results.
The acquisition builds on an existing relationship between TransUnion and Monevo. Transunion has owned 30% of the equity of Monevo after acquiring a minority stake in the company in 2021, and is now acquiring the remaining 70% from Quint Group Limited.
“Over the last three years, our partnership with Monevo has helped address gaps in the consumer experience,” said Steve Chaouki, President of US Markets at TransUnion.
“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 in the U.S and expect to have more to share in the coming quarters.”
TransUnion is one of the world’s largest consumer credit reporting agencies, having been operating for nearly 60 years and being a complement of the Russell 1000 Index via its long-term trading on the NYSE.
The company has identified an opportunity in Monevo, highlighting what it calls the ‘improved experience and economics’ the company offers consumers, publishers and lenders, and its international network of 150 banks and credit providers.
TransUnion’s acquisition of Monevo indicates that M&A activity in UK payments is showing no signs of slowing down in 2025.
Last year saw extensive M&A activity, with Mastercard acquiring Cambridge-based Featurespace, the Coventry Building Society taking over Co-Op Bank and Nationwide buying Virgin Money, among other major deals.
The news may also be well received by the British government, which has been trying to attract overseas investment to the UK. The government has made some progress in this area, with the likes of fast-growing Brazilian digital bank Nubank apparently considering a UK domicile.
Greg Cox, CEO of Quint Group and Monevo, remarked: “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.”
