Who – are ClearScore?
Launched in July 2015, ClearScore has rapidly evolved into one of the leading FinTech businesses in the UK. The first UK company to provide its customers with free credit checks and scores, ClearScore revolutionised the credit market before diversifying its offering, moving into areas such as credit card offers, personal loans and car finance.
ClearScore’s meteoric growth is best showcased by its following, with 2 million people using the service before its first birthday. By March 2018, ClearScore was serving 6 million customers (300,000 in South Africa) and employed over 100 people in the UK alone.
It was no surprise, therefore, that in March 2018, the credit data giant Experian announced plans to buy the start-up for £275 million; the largest tech deal in the UK for years.
Why – did they hire FYXER?
To say ClearScore has grown rapidly is an understatement: not many companies grow from foundation to £275 million exit in under three years. However, growing so quickly often comes at a price.
CEO Justin Basini approached FYXER in October 2016. Even when working 20-hour days, he found there was no respite in the number of tasks that were flooding his in-tray. He wanted flexible executive support to give him more time to focus on the tasks that mattered.
What – did FYXER do?
Initially, FYXER worked solely with Justin, helping to streamline his output and clear unnecessary tasks from his day-to-day. Realising the productivity and well-being benefits of FYXER’s support, he decided to roll out the service to his whole executive team within three months. As a scalable service, we onboarded two new Fyxers to the account, removing the need to spend time and money hiring and training new full-time personnel.
As ClearScore grew – expanding its offering, moving offices, hiring more staff – so did FYXER’s support. From preparing meetings and business trips to coordinating executive team diaries, FYXER enabled Justin and his team to focus on the business-critical tasks needed to grow the company in the way they wanted.
How – did FYXER make a difference?
FYXER boosted the effectiveness of ClearScore’s leadership. With three Fyxers working across the executive team, senior management was able to focus on the demands and pressures of running an extremely high-growth company, eventually leading to an unprecedented £275 million exit.
Meanwhile, FYXER provided immediate tonic for the accompanying growing pains. As the business grew, FYXER helped to orchestrate a cohesive, coordinated approach throughout the whole company (especially with regards its new international offices), allowing ClearScore to function as an effective unit. In addition, freeing-up the executive team’s time, relieved stress and ensured the leadership did not suffer from burn-out.
ClearScore grew from foundation to £275 million exit in under three years. Here’s how FYXER supported ClearScore’s executive team to make that happen.