RIBBIT acquires ValidiFI to strengthen offerings and market presence
By Delisha Fernandes
RIBBIT, an alternative bank and payment data provider, announced its acquisition of ValidiFI, a fraud, compliance, and risk mitigation solutions provider. RIBBIT led the acquisition with support from their existing investor ABS Capital and added a new investor, MissionOG.
The acquisition will create banking and payment data solutions platform, improving the company’s product offering and creating the largest alternative database of bank and payment data in the marketplace.
RIBBIT’s predictive analytics and data assets, combined with ValidiFI’s verification and compliance solutions, will double a strong market presence and expand the breadth and depth of products and services offered.
“I am excited about the enormous opportunity to bring these two dynamic, industry-leading companies together,” said Greg Rable, CEO of RIBBIT. “The combination of talented people, robust data, and best-in-class products makes this a win-win for our customers and us.”
“Through this process, I have been impressed by the commonality of entrepreneurial grit and innovation between our two companies,” said Oscar DiVeroli, Founder and CEO of ValidiFI. “I am confident that our combined company will raise the bar regarding predictive insights and leading-edge customer solutions.”
ValidiFI, a consumer reporting agency, leverages banking and payment data across the credit lifecycle offering compliance and risk mitigation solutions. Through its FCRA and GLBA solution suites, ValidiFI enables clients to apply its unique data offerings to create efficiency and maximise profit.