Intelligent Lending has acquired finance app TotallyMoney to strengthen its presence across the UK personal finance market.
The business platform says the move will see TotallyMoney join CredAbility and Ocean among its brands, which provide a range of personal finance products, including mortgages, credit cards, and other loans aimed at the underserved market.
It adds the purchase, for an undisclosed fee, will see the group grow to 250 staff based in Manchester, London, Cyprus, and Italy, with a customer base of more than seven million.
Intelligent Lending says the move comes ahead of the group’s plans for international expansion, due to begin later this year “with several countries” already identified as growth opportunities.
Intelligent Lending chair Simon Kay points out that the technology development at TotallyMoney “will complement the work we’re doing at CredAbility and Ocean”.
TotallyMoney chief executive Alastair Douglas adds that the move will unite the firm’s “shared experience, insights, and expertise [which] will provide great opportunities for collaboration and innovation”.