Purchase will make the company the largest banking and payment data platform in the industry
ATLANTA (May 31, 2023) – RIBBIT, Inc., the authority on alternative bank and payment data, today announces its acquisition of ValidiFI, a leading provider of fraud, compliance, and risk mitigation solutions. The acquisition will create the industry’s leading 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 more than double an already strong market presence in addition to expanding the breadth and depth of products and services offered.
“I’m excited about the enormous opportunity to bring these two dynamic, industry-leading companies together,” says 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.” says Oscar DiVeroli, Founder and CEO of ValidiFI, “I am confident that our combined company will raise the bar in terms of predictive insights and leading-edge customer solutions.”
RIBBIT led the acquisition with support from their existing investor ABS Capital and added new investor MissionOG to their team.
Additional updates will be released in the coming weeks. RIBBIT CEO Greg Rable is available for comment and interviews.
For more information about RIBBIT, visit www.ribbit.ai.
RIBBIT, the Bank Behavior Data Experts, leverage the predictive power of bank data across the credit and payment lifecycle. RIBBIT’s data insights enable lenders, fintechs, and banks to identify fraud, assess credit risk and determine affordability. Learn more about RIBBIT at www.RIBBIT.ai.
ValidiFI, a specialty 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 maximize profit. Learn more about our solutions at validifi.com.
About ABS Capital
ABS Capital provides growth equity capital to B2B software and tech-enabled services businesses with strong technology and data underpinnings looking to scale with the right partners. Building growth-stage businesses has been ABS Capital’s focus for more than 30 years. Over that time, ABS Capital has invested more than $2.5 billion in approximately 130 companies across eight funds. Bringing investing, operational, infrastructure, technology, and business development skills to amplify the success of growing businesses together with data-driven business strategies, market research and analytics, ABS Capital works intensively in close partnership with talented management teams. ABS Capital: building emerging growth businesses into industry leaders. For more information, visit www.abscapital.com.
MissionOG partners with high-growth businesses that have proven models in segments where we have had success as operators and investors, including financial services and payments, data platforms, and software. We apply our experience and capabilities to a group of highly skilled and passionate entrepreneurs whose businesses are on the cusp of exponential growth. The firm is managed by operators and investors who have effectively built early to growth stage businesses and guided them through successful acquisitions. MissionOG is headquartered in Philadelphia. For more information visit https://missionog.com/.