Lloyds Banking Group's private equity investor LDC has backed credit risk technology provider LendingMetrics.
Founded in 2010, LendingMetrics’ software and data suite help hundreds of companies to make automated and risk-based lending decisions. Clients include building societies, online lenders, mortgage companies, credit card providers and commercial lenders.
As well as its Auto Decision Platform, its cloud-based software suite includes a proprietary multi-bureau credit referencing product, a bank statement data platform which helps clients to build accurate affordability profiles in real time, and a proprietary credit data deduplication tool.
LDC's "significant" investment will be used to explore complementary acquisitions and diversify LendingMetrics' presence in new industries such as the telecoms, utilities and insurance markets.
Oliver Schofield, investment director at LDC, says LendingMetrics has "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".