UK fintech Wagestream is acquiring Keebo, a London-based credit card challenger, to enhance its financial wellbeing app.
The deal aims to improve the financial health of shift and frontline workers in the UK.
Keebo, founded in 2019, employs open banking data in its credit decision-making process, allowing it to lend to individuals with limited or thin credit histories.
The acquisition will see Wagestream Group integrate Keebo’s product, technology, and staff, including CEO and founder Michael Vanaselja.
This move will enable Wagestream to expand its services to more people, especially the 3 million frontline workers currently using the Wagestream app.