Wallaby Financial, a Pasadena company that helps consumers maximize their credit card rewards, has been acquired by financial publisher Bankrate Inc. of North Palm Beach, Fla.
Terms of the deal were not disclosed.
Wallaby’s technology will be integrated with Bankrate’s credit card distribution platform, which includes CreditCards.com, an online marketplace that helps people identify the right card for them based on shopping habits and desired rewards. Bankrate partnered with Wallaby earlier this year to increase conversion rates in its credit card channel.
Wallaby recommends what credit card a consumer should use for any given purchase – use this card for this purchase, another card for that purchase – with the aim of maximizing reward points. The FinTech company said it has recommended $20 million in consumer savings since its 2012 launch. More than 100,000 users have used the company’s Web, mobile and wearable offerings to optimize their credit card use.
“While our ownership has changed, our mission to help people save money through smart use of financial products has not,” said founder and Chief Executive Matthew Goldman in a statement. “We are excited about our future and how we can leverage the huge reach and resources of Bankrate to help more people save even more money.”
Wallaby will continue operations in Pasadena.
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