Acquisition of Truebill Finance App by Rocket Companies for $1,275 bn

by Suryaa |

Mortgage provider Rocket Companies which are based in the US on Monday entered into an agreement to acquire Truebill for $1.275 billion in cash.

Truebill app helps its customers manage subscriptions, improve credit scores, track spending and plan their budget in a single app. The App was founded in 2015. It has been recently ranked first as the Consumer Tech Company on the Information's list of the 50 most Promising Startups.

CEO of Rocket Companies Jay Farner thinks that Truebill is a perfect fit for their platform. Truebill acquisition accelerates Rocket Companies vision to help clients in complex moments. With acquisition Rocket is expected to add $100 million in annual recurring revenue to Rocket's $1.3 billion of annualised servicing fee income.

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