Quint Group has described the recent sale of Monevo to TransUnion as a “natural next step” for the personal credit platform.
TransUnion already held a 30% stake in Monevo, with the company completing the purchase of the remaining 70% from Quint Group today. TransUnion has stated that the acquisition is not expected to have a material impact on leverage, liquidity or its 2025 operating results.
When the agreement was first announced in January, Steve Chaouki, President of US Markets at TransUnion, noted the progress the two entities had made over the last three years of the partnership.
Following the completion, Chaouki has emphasised the “critical” role Monevo plays in delivering on TransUnion’s overarching goal.
“We are delighted to welcome Monevo into the TransUnion family. We anticipate that Monevo’s platform will enhance our portfolio and our proposition to lenders,” he said.
“Prequalification, or eligibility, is critical to the consumer lending process, which supports our mission to make trust possible in global commerce and helps us to deliver on our wider goal of using Information for Good.”
Monevo’s platform empowers over 150 credit providers and banks to host, manage and distribute pre-qualified credit offers.
As noted in the initial announcement, Madhu Kejriwal, Regional President at TransUnion UK and Europe, has again identified an opportunity to build on the experience and economics it currently offers.
Kejriwal commented: “We expect that the acquisition will further enable publishers and lenders to benefit from improved economics, while consumers experience a more compelling and personalised online credit shopping experience – receiving tailored offers that won’t impact their credit scores.”
Quint Group has stated this is a “natural next step” for the platform. Greg Cox, Founder and CEO of Qunit Group and Monevo, has highlighted the access and resources that it will gain from this acquisition.
Cox concluded: “This acquisition is the natural next step for Monevo. With TransUnion, we expect that the business will be able to leverage new resources and access new markets, allowing it to continue to realise its potential and improve access to credit on a global scale.”
