Ashcombe advises Snoop on its sale to Vanquis Banking Group
Ashcombe is pleased to announce that is has advised Usnoop Limited (“Snoop”) on the sale of the business to Vanquis Banking Group (“Vanquis”).
Snoop provides its customers with personalised insights to help them better understand and manage their finances. The Snoop app uses AI and open banking data to help people save on household bills and targets savings of up to £1,500 per year for customers. Snoop also helps businesses understand emerging consumer spending trends by analysing customer spending habits and transactions on its platform, enabling businesses to be better informed about their customers.
John Natalizia, Chief Executive Officer, Snoop commented:
“Vanquis Banking Group is the perfect partner to help accelerate Snoop's ambition to make everyone better off by offering a level of personalisation that empowers our customers to take control of their finances and make a real difference to their spending habits. We have had a long-standing relationship with Ashcombe whose tactical and strategic advice and thoughtful execution services were again critical throughout the negotiation and execution of this transaction.”
Andreas Wesemann, Partner at Ashcombe, commented:
“We are pleased to have completed a further FinTech transaction which combines a long-standing client and the leading specialist consumer bank in the UK. Snoop has built a market-leading money-saving business which will offer significant benefit to Vanquis’ 1.7m customers. We look forward to further engagement with our FinTech clients to help them achieve their growth and value creation objectives in coming years.”