Contributors
Womble Bond Dickinson (WBD) has advised LDC, the private equity investor which is part of Lloyds Banking Group, on its significant investment in credit risk technology group LendingMetrics.
LendingMetrics’ software and data solutions help companies such as building societies, online lenders, and mortgage companies to make highly sophisticated automated and risk-based lending decisions.
LDC is backing the LendingMetrics management team, led by co-founders CEO Neil Williams and Commercial Director David Wylie, and the investment and additional strategic support will help the business to accelerate new product development in its core financial services sector and expand its network of partners in its consultancy and data services division.
LendingMetrics will also be enabled to explore complementary acquisitions and diversify its presence in new vertical industries with similar credit risk challenges, such as the telecoms, utilities and insurance markets.
A WBD team led by corporate partners Alex Fergus and Tom Fitzpatrick, corporate solicitor Danny Jeffrey, and tax partner Ronan Lowney advised LDC on all legal aspects of the investment.
Alex said: "This strategic investment in LendingMetrics from LDC will position the company for growth and we're thrilled to be able to have assisted on this significant transaction. Our dedicated team worked closely with LDC to navigate the complexities of this investment, and we're excited to see how this partnership will enable LendingMetrics to scale its operations and enhance its offerings."
The deal is the latest investment WBD has advised LDC on, with the firm also supporting LDC's investment in Waterscan earlier in 2024.
Oliver Schofield, investment director at LDC, added: “Neil, David and the wider LendingMetrics team have 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. We’re excited to be backing the team and helping them to scale in what is a fast-growing and rapidly evolving market."
LDC was also advised by FRP Corporate Finance (corporate finance) and BDO (financial and tax due diligence).
The transaction is subject to FCA approval.
