Intuit, the global financial technology platform that operates TurboTax, Credit Karma, QuickBooks, and Mailchimp, has agreed to acquire SeedFi, the partner behind Credit Karma’s Credit Builder program. Credit Builder offers a line of credit and a secured savings account that helps low or no-credit borrowers build their credit while saving money. By integrating SeedFi’s technology with Credit Karma’s existing relationships in the credit ecosystem, Intuit aims to help more Credit Karma members make financial progress, especially those who need it most.
Through a partnership with SeedFi last year, Credit Karma introduced Credit Builder, enabling members to make regular payments to improve their credit scores and build savings. This partnership resulted in members increasing their scores by an average of 21 points in as little as 30 to 45 days and accumulating over $10 million in savings.
The acquisition of SeedFi will allow Credit Karma Money to expand and help more members achieve financial security. The transaction is expected to close in the coming months, with SeedFi becoming part of Intuit’s Credit Karma business.
About Intuit: Intuit is a global financial technology platform that aims to empower prosperity for individuals and communities worldwide through products like TurboTax, Credit Karma, QuickBooks, and Mailchimp.
About Credit Karma
Credit Karma, an Intuit company, is a consumer technology firm serving nearly 130 million members in the United States, U.K., and Canada. The company provides various financial services, including free credit scores, identity monitoring, credit card and loan applications, auto insurance and savings accounts, and checking accounts through its bank partner, MVB Bank, Inc.
