Slaughter and May is advising Credit Karma, one of the world’s highest-valued financial technology companies, on its first move into Europe with an agreement to acquire TransUnion’s Noddle business.
Noddle is an online service with over 4 million members in the UK that provides members with free, unlimited access to credit scores and reports.
Credit Karma’s technology platform currently has more than 85 million members in the United States and Canada, including almost half of all millennials. It offers a suite of products for members to monitor and improve credit health, prepare and file taxes, and provides identity monitoring and auto insurance estimates. It leverages advanced data modelling to analyse and identify the best financial products for its members.
The transaction is subject to customary closing conditions, including approval from the Financial Conduct Authority.