Upbound Group's acquisition of Brigit, a leader in financial health technology, merges established brands with innovative digital solutions for financial wellness. This acquisition aims to enhance Upbound's service offerings, utilizing Brigit's advanced technology to better serve approximately four million customers, including over one million paying subscribers. This partnership focuses on meeting the needs of those underserved by traditional banks, advancing financial access through cash flow underwriting, which represents a pivotal shift from conventional credit evaluations. Brigit will maintain operational independence post-acquisition, ensuring it retains its culture and innovation-driven approach.
Brigit was built with a dual mission of creating social impact while building a profitable business, focusing on helping Americans living paycheck to paycheck.
A key aspect of the acquisition was structured independence for Brigit to preserve their culture and speed while gaining the benefits of scale.
#financial-health-technology #acquisition #financial-inclusion #cash-flow-underwriting #social-impact
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