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FT Partners Advises L2C in its Sale to TransUnion

FT Partners Advises L2C in its Sale to TransUnion

Overview of Transaction

  • On November 3, 2014, L2C, Inc. ("L2C") was acquired by TransUnion
  • Backed by QED and Core Innovation Capital, L2C leverages alternative payment and asset data to create new predictive credit, marketing and collection scores for over 220 million Americans
  • Financial terms of the transaction were not disclosed

Significance of Transaction

  • The acquisition of L2C by TransUnion allows the bureau to become a leader in scoring individuals in a historically unaddressed, but rapidly growing market (underbanked, subprime and new to credit)
  • L2C's ability to provide predictive scores on more than 90% of customers will be combined with TransUnion's rental information and CreditVision® suite of services to help lenders get a more accurate picture of underbanked consumers and subsequently, the credit rates they deserve

FT Partners' Role

  • FT Partners served as exclusive strategic and financial advisor to L2C and its Board of Directors
  • FT Partners leveraged its deep knowledge, extensive experience and broad industry relationships to help achieve a highly favorable outcome for stakeholders
  • Transaction demonstrates FT Partners' continued success in achieving highly attractive outcomes for leading credit and lending technology firms