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- Upbound Group Acquires Brigit in $460M Strategic Move
Upbound Group Acquires Brigit in $460M Strategic Move
Slice of Finance Team
12 Dec
Key Highlights:
Upbound acquires Brigit for up to $460 million, combining cash and stock.
Brigit, a leading financial health app, serves nearly 2M active customers with subscription-based products like Instant Cash, credit building, and financial literacy tools.
Transaction enhances Upbound’s tech-driven platform, diversifies revenue streams, and accelerates growth in digital and virtual markets.
Integration strengthens risk management, customer loyalty, and personalized financial solutions across Upbound’s brands, including Acima and Rent-A-Center.
Acquisition expected to close in Q1 2025, pending regulatory approvals.
Source: Business Wire
Notable Quotes:
“Creating a financial solutions platform with Brigit as the backbone expands our addressable market and enables Upbound to innovate across even more product categories to improve the financial health of our customers.”
“By combining forces with Upbound, we can accelerate our impact and better serve the millions of Americans who have been historically underserved by traditional financial institutions.”
Our Take:
This acquisition underscores Upbound’s commitment to leveraging technology to address gaps in the financial services market for underserved communities. Brigit’s advanced AI and machine learning capabilities offer Upbound a robust platform to innovate and scale, while its proven customer engagement metrics and revenue growth potential make it a valuable addition. By diversifying its offerings beyond durable goods, Upbound positions itself as a leader in holistic financial solutions, which could further drive shareholder value and set a new standard in financial inclusion.