​Intelligent Lending Expands Portfolio with Acquisition of TotallyMoney

​Intelligent Lending has announced the acquisition of TotallyMoney, a prominent fintech company known for its open banking technology and free credit report services. The deal marks a significant expansion for Intelligent Lending, positioning the firm as a key player in the UK’s financial services landscape, particularly in providing solutions to underserved consumers.

TotallyMoney, which serves millions of users through its personal finance app, is designed to help individuals improve their financial health by offering personalized insights, budgeting tools, and access to credit-related products. The integration of TotallyMoney into Intelligent Lending’s existing businesses—including Ocean and CredAbility—will enhance the group’s overall offering. This acquisition will strengthen the company’s ability to deliver a broad range of financial services, including credit products, loans, and financial wellness tools, to a growing customer base across the UK.

The combined group will have a workforce of approximately 250 employees spread across the UK, Cyprus, and Italy, with a customer base of over seven million people. This scale will be crucial as Intelligent Lending positions itself for further expansion, both in the UK and internationally. The company is already preparing to extend its reach into new markets, with international growth plans set to take off in the near future.

Simon Kay, Chair of Intelligent Lending, expressed optimism about the acquisition, noting that TotallyMoney’s technology and mission align closely with the group’s vision of using data and technology to support financial inclusion. He highlighted the synergies between TotallyMoney and the other businesses within Intelligent Lending, particularly CredAbility and Ocean, which have long been committed to providing accessible financial products and services to a diverse consumer base.

TotallyMoney CEO, Alastair Douglas, echoed this sentiment, emphasizing that the acquisition represents a new chapter for the fintech company. He pointed out that the shared commitment to supporting financially underserved individuals was a key factor in the decision to join forces with Intelligent Lending. With the ongoing economic challenges faced by many UK households, including rising living costs and persistent inflationary pressures, Douglas stressed the importance of providing consumers with the tools they need to improve their financial standing, such as building credit scores and managing debt.

This move is part of a broader industry trend where established financial service providers are integrating advanced technologies, like open banking, to offer more tailored and accessible financial solutions. By combining its strengths with TotallyMoney, Intelligent Lending aims to create a comprehensive platform that can better address the diverse needs of consumers, particularly those who have historically been overlooked by traditional banking models.

As the integration process unfolds, both companies are committed to preserving the core values and customer-centric approach that have earned TotallyMoney a strong reputation in the UK. The merger is expected to foster further innovation in the fintech sector, with the ultimate goal of enhancing financial wellbeing for millions of individuals across the country.