Empower Finance Acquires Petal and Completes Acquisition of Cashalo
April 9, 2024
Empower Finance, a San Francisco-based fintech specializing in alternative credit underwriting, has signed a definitive agreement to acquire Petal (a U.S. consumer credit card fintech) and completed its acquisition of Cashalo (a Philippine digital lending platform). The transactions expand Empower's product capabilities in the U.S. credit card market and give the company a strategic foothold in the Southeast Asian credit market to reach underserved consumers.
- Buyers
- Empower Finance, Inc.
- Targets
- Petal, Cashalo
- Industry
- Financial Services
- Location
- New York, United States
- Transaction Type
- Buyout
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