PwC’s Lead Advisory team has advised the shareholders of Quint Group Limited on the sale of Monevo Limited ("Monevo") to Trans Union International Inc ("TransUnion", NYSE:TRU).
Monevo is a credit prequalification and distribution platform that empowers lenders and banks to deliver highly personalised credit offers to consumers via comparison websites and other third parties, predominantly in the UK and US markets. Working with over 150 banks and credit providers globally, Monevo’s centralised technology and decisioning infrastructure integrates lenders and publishers, allowing them to deliver better outcomes to consumers who are searching online for credit offers. Those consumers can see their likelihood of being approved for credit products before applying with lenders, instilling confidence and removing unnecessary searches that have the potential to impact their credit scores adversely.
TransUnion is a global information and insights company with over 13,000 associates operating in more than 30 countries, including the United Kingdom. The transaction enables TransUnion to meet growing demand for personalised credit experiences online and to broaden their value proposition and go-to-market strategy in the direct-to-consumer business.
PwC advised on the sale of a 30% minority equity stake in Monevo to TransUnion in 2021 and TransUnion subsequently agreed to acquire the remaining ownership position from Quint Group Limited.
PwC Corporate Finance acted as lead advisor to Quint Group Limited and the team advising on the deal was led by Jeremy Sweetnam with support from Chris Whitehead and Sahil Dhanani.
Greg Cox, CEO at Quint Group said:
“We have a great relationship with the PwC Corporate Finance team, and they were highly diligent, provided practical advice and supported us through each key milestone in delivering the transaction. 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.”
Jeremy Sweetnam, Partner at PwC Corporate Finance said:
“Having worked with the Quint Group team in 2021 on the sale of a minority stake, we are delighted to have advised Greg and team on this transaction with respect to the remaining shareholding. Monevo has established itself as a market leading credit prequalification and distribution platform in the UK and the US and the transaction will undoubtedly enhance TransUnion’s value proposition. The deal represents our latest success in the fintech sector, and demonstrates that we can deliver tremendous results, even in a challenging market.”
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