Credit Karma, the US startup with 85 million users that offers credit reports and a platform to browse and buy other financial services, has made an acquisition to help it kick-start its first overseas expansion beyond the US and Canada: it has acquired Noddle, a UK-based credit reporting service with 4 million users, from TransUnion.
Financial terms of the deal are not being disclosed, but Valerie Wagoner, Credit Karma’s VP of International (who had previously been at Twitter), said that it will be a full acquisition of tech and employees — 35 in all — and TransUnion is not taking any stake in Credit Karma as part of this deal, although the two will continue to work together with TransUnion providing data to Credit Karma, as it had done before.
Credit Karma raised $500 million in a secondary round earlier this year that valued it at $4 billion, specifically to help fuel its growth, and that’s what it has been doing. (It also acquired mortgage platform Approved in August.)
For TransUnion, this is a cleaning of house, of sorts. The company, a credit reporting agency that competes against Equifax and Experian — and thus, in part, with …read more
Source: Tech Crunch