Debitize Acquires Debx to Strengthen its Emerging Leadership Position in Credit Card Management for Consumers
Acquisition will Allow Debitize to Add Features to its Personal Finance App and Increase its User Base
NEW YORK, Sept. 25, 2018 /PRNewswire-PRWeb/ -- Debitize, the app that makes it easier for consumers to manage credit cards and avoid fees, has announced the acquisition of Debx. The acquisition helps accelerate Debitize's growth in the personal finance/debt management marketplace.
Debitize empowers people to take control of their credit cards. Through Debitze's iOS and web apps, users enjoy credit card benefits without recurring debt and avoid fees and interest. The app also helps consumers build their credit score and earn points.
Commented Debitize CEO and Founder Liran Amrany, "This is a perfect first acquisition for Debitize. Both companies share a similar commitment to our clients' financial education and empowerment. This represents a compelling and logical deal that benefits the customers and stakeholders of both companies. We are excited to welcome Debx users to Debitize and thrilled to have Debx CEO Ben Psillas join as an advisor. The timing of this acquisition coincides with the upcoming launch of version 2.0 of our app and adds momentum as we continue to meet our growth goals."
Debx CEO, Ben Psillas added, "It's been an amazing two year journey with Debx. I am excited for our users as they transition to Debitize and enjoy even more ways to manage their credit cards and personal finances. It is also gratifying that I can continue on our mission as an advisor to Debitize. Given that we share many of the same customers, technologies, and philosophies, joining forces made sense. It is the best move for Debx customers."
Debitize has enjoyed a year of significant growth in their user base, as well as increased traction for Credit Optimizer, a new subscription feature which targets users' credit utilization to help improve credit scores automatically. According to Amrany, "We listened to our customers' feedback and refine the app to be as well aligned as possible with the lifestyles and spending habits of our customers."
Debitize user Nicholas added, "Once I started using Credit Optimizer, I really saw things change quickly. My bank noticed that I was really making an effort and extended the credit limits on both of my cards. Over the last 10 months, since downloading Debitize, my credit score has gone from 515 to 705, and I know have control of my credit. Debitize changed my life."
About Debitize
Debitize's online tool and app help users avoid credit card debt. It offers the spending control of debit with credit card perks like points and credit score building. A user's credit purchases are deducted from their bank account each day. Debitize then automatically pays the credit card bill each month. Debitize is handling over $40 million dollars a year in transactions. The company is based in New York and has users across the United States.
For additional information please visit debitize.com.
Contact: Peter Mansfield
Email: peter(at)debitize.com
Phone: 310 245 9600
Facebook: https://facebook.com/debitize
Twitter: @debitize
LinkedIn: https://www.linkedin.com/company/debitize
SOURCE Debitize
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