Nod­dle is to be sold to Credit Karma

Yorkshire Post - Business - - FRONT PAGE - Ros Snow­don CITY EDI­TOR @RosSnow­donYPN

Tran­sUnion, the global risk and in­for­ma­tion so­lu­tions provider, is to sell its Nod­dle busi­ness, the freefor-life credit re­port­ing ser­vice, to Credit Karma.

Tran­sUnion ac­quired Nod­dle ear­lier this year as part of its ac­qui­si­tion of Call­credit, the sec­ond largest credit ref­er­ence agency in the UK.

John Dana­her, Tran­sUnion’s pres­i­dent of con­sumer in­ter­ac­tive, said: “Tran­sUnion is ex­cited to bring these com­pa­nies to­gether.

“Nod­dle and Credit Karma are well matched, both em­brac­ing a con­sumer-first ap­proach to of­fer­ing free in­for­ma­tion mon­i­tor­ing and fi­nan­cial health so­lu­tions.

“We are con­fi­dent the busi­ness will con­tinue to thrive un­der its new own­er­ship and that this di­vesti­ture is a pos­i­tive move for all par­ties, in­clud­ing UK con­sumers.”

Credit Karma is a per­sonal fi­nance tech­nol­ogy com­pany with more than 85 mil­lion mem­bers in North Amer­ica, in­clud­ing al­most half of all mil­len­ni­als.

The com­pany of­fers a range of per­sonal in­for­ma­tion mon­i­tor­ing, as well as fi­nan­cial health im­prove­ment prod­ucts that are free for mem­bers. Credit Karma said its growth in the US and Canada has been largely through of­fer­ing award-win­ning user ex­pe­ri­ence and free ac­cess to ac­tion­able tools that help their mem­bers make the most of their money.

Ken­neth Lin, CEO and founder of Credit Karma, said: “Our mis­sion is to help peo­ple make fi­nan­cial progress, and that ex­tends be­yond North Amer­ica.

“For over a decade, we’ve en­abled our mem­bers in the US and Canada to take con­trol of their fi­nances by giv­ing them free ac­cess to their fi­nan­cial in­for­ma­tion. We’re con­fi­dent the ac­qui­si­tion of Nod­dle will help us de­liver on our mis­sion in the UK and wel­come the op­por­tu­nity to ex­pand our part­ner­ship with Tran­sUnion glob­ally.”

The sale is an­tic­i­pated to close later this year or early 2019.

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