LendingMetrics, a credit risk technology group, has secured investment from LDC, part of Lloyds Banking Group, to grow its presence in the UK decisioning software and data market.
Founded in 2010, LendingMetrics provides automated and risk-based lending decision solutions for various clients, including building societies and online lenders.
LendingMetrics offers several products, including its Auto Decision Platform (ADP) and LendingMetrics Exchange (LMX), a multi-bureau credit referencing tool.
It also has OpenBankVision (OBV), which helps clients build accurate affordability profiles, and DeeJoop, a credit data deduplication tool.
LDC’s investment will support LendingMetrics’ management team, led by commercial director David Wylie (pictured, left) and CEO Neil Williams (pictured, right) in accelerating product development and expanding partnerships in consultancy and data services.
Wylie said: “I am delighted that we have been able to agree this deal with such a highly regarded investor, committed to growth and expansion of UK home-grown businesses.
“The whole LendingMetrics team are responsible for the excellent reputation we have built in the decisioning technology sector and, with LDC’s backing, we look forward to leveraging our market-leading position to scale the business and identify new market opportunities and partnerships.”
Williams said: “We’re extremely proud of what we’ve achieved in the last 14 years, the fantastic team we have built and of the great partnership we have fostered with many clients and partners who have been part of our journey so far.
“With the support of LDC we can invest for further growth, especially in our R&D team.
“Having firmly established products such as ADP to be truly industry-leading and launched innovative and peerless products such as DeeJoop, our aim is to bring an expanding suite and capability of risk solutions and data services to more businesses and sectors, while preserving the agility, independence and focus on client value and service that have made us successful to date.”
Oliver Schofield, investment director at LDC, added: “Neil, David and the wider LendingMetrics team have built a highly sophisticated and disruptive technology stack that is at the cutting edge of credit risk technology and has made the business a critical, trusted partner to their clients.
“We’re excited to be backing the team and helping them to scale in what is a fast-growing and rapidly evolving market.”
