ClearScore Review - Free Android Application
Founded in 2012, ClearScore is an analytics platform that tracks and analyses user behavior across multiple channels. ClearScore built an industry-leading product in the UK market through a home-grown system. These tools collect event data from various sources and push it into a central database. The resulting insights enable companies to tailor their content to each customer. And the software is easy to use, with its drag-and-drop interface. ClearScore aims to make financial life easier for everyone.
The ClearScore Protect team ran more experiments than any other ClearScore team. The goal of these experiments was to create an experience that would help users understand the value of the product. By creating experiments, the team shortened the insight-to-action cycle. By focusing on the right data and iterating, the team has been able to position their product to specific audiences, tweak messaging, and double their subscription rate in a year.
ClearScore has raised several rounds of funding. Invus Opportunities valued the company at $700 million in June 2021. In fiscal year 2019, the company generated PS57 million in revenue, but hasn't shared the figures for 2020 and 2021. Since ClearScore is privately held, the ownership structure of the company is not disclosed publicly. However, ClearScore's founders did not charge a penny to view financial data on the website. In addition, the company's financing was raised in only three equity-based rounds, and so the shareholders likely gave up the remaining 28 percent of ownership to Invus Opportunities.
To use ClearScore, users need to verify their identity and then enter their credit data. Once verified, the website retrieves Experian's database to get their credit score. ClearScore then provides an overall score, based on the data entered. This score is out of 1,000. The higher the score, the better the chance of getting accepted for credit and getting better interest rates. It is also worth noting that the ClearScore system strictly complies with the Data Protection Act 2018 and is regulated by the Financial Conduct Authority.
