Intuit, a financial software company headquartered in Mountain View, California, has acquired the mobile-first technology platform developed by Deserve, a fintech firm based in Palo Alto, California.

The financial terms of the transaction, which was finalised on 18 April, were not disclosed.

Following the acquisition, Deserve’s Palo Alto-based employees have joined Intuit’s team in Mountain View, while its staff in Pune, India, will continue working from their existing location.

According to Intuit, the acquisition aligns with its strategy to build a connected business platform that enables customers to manage and grow their businesses in one place.

“With Deserve’s technology we’re further investing in our efforts to revolutionise money management. I couldn’t be more excited to work with the talented team members from Deserve as we fuel businesses’ growth and empower them to thrive,”

said James Barrese, Senior VP of Fintech at Intuit.

Founded in 2013, Deserve developed a mobile-first credit card platform using cloud-native and API-enabled architecture.

The platform supports financial institutions, fintech firms, lenders, and merchant co-brands in delivering personalised experiences for cardholders.

Deserve’s Co-Founder and CEO, Kalpesh Kapadia, commented:

“I’m proud of our mobile-first technology platform we’ve built at Deserve and the team that brought us to this critical milestone. I couldn’t be more excited to bring our technology to Intuit, a global leader in financial solutions, where we will have a significant impact on consumers and businesses.”

Featured image credit: edited from freepik