TotallyMoney will sit alongside Intelligent Lending’s other brands, CredAbility and Ocean, as the group plans an international expansion this year.
The acquisition means the group will grow to 250 staff, based in Manchester, London, Cyprus, and Italy, with a growing customer base of more than seven million.
Simon Kay, chair of Intelligent Lending, said: “We’ve been super impressed with the dedication of the team in developing cutting-edge technology that will complement the work we’re doing at CredAbility and Ocean. TotallyMoney’s mission is closely aligned with ours, and we look forward to helping even more people improve their financial wellbeing.”
Alastair Douglas, TotallyMoney’s chief executive, added: “Joining Intelligent Lending signals the start of an exciting new chapter for TotallyMoney, our staff, and our customers. Having met the team, it’s clear that the culture and vision of Intelligent Lending fits very well with our own.
“The other forward-thinking financial services businesses within the group have a real focus on supporting the UK’s 23 million financially under-served adults. And like us, they put their customers first, and use technology and data to help people manage their money and improve their financial future.
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“This comes at an important time, because while inflation has fallen drastically from its October 2022 peak, things are more difficult than ever for millions of households across the UK. So, helping people build their credit scores and clear debt by putting them in control of their own financial data is a real priority.”
Inflation, measured by the Consumer Price Index (CPI), is at 2.6% and remains above the Bank of England’s 2% target.
CPI rose by 2.6% in the 12 months to November 2024, up from 2.3% in the 12 months to October.
