Bank and payment data fintech Ribbit acquires regtech ValidiFI
Alternative bank and payment data fintech Ribbit has acquired ValidiFI, a provider of fraud, compliance and risk mitigation solutions, for an undisclosed sum.
Ribbit acquires ValidiFI
Ribbit says the acquisition will create the largest alternative database of bank and payment data on the market, with ValidiFI’s verification and compliance solutions combining with Ribbit’s predictive analytics and data assets more than doubling the firm’s market presence as well as expanding the number of products and services offered.
ValidiFI leverages banking and payment data across the credit lifecycle to offer compliance and risk mitigation solutions.
Ribbit CEO Greg Rable says bringing together two “dynamic” companies is a “win-win” for both customers and Ribbit.
ValidiFI CEO and founder Oscar DiVeroli says he is confident that the combined company “will raise the bar in terms of predictive insights and leading-edge customer solutions”.
Ribbit led the acquisition with support from existing investor ABS Capital and added a new investor, MissionOG, to its team.
