M&A Deal Summary

Velocity Solutions Acquires Akouba

On June 21, 2018, Velocity Solutions acquired internet software and services company Akouba

Acquisition Highlights
  • This is Velocity Solutions’ 1st transaction in the Internet Software and Services sector.
  • This is Velocity Solutions’ 1st transaction in the United States.
  • This is Velocity Solutions’ 1st transaction in Illinois.

M&A Deal Summary
Date 2018-06-21
Target Akouba
Sector Internet Software and Services
Buyer(s) Velocity Solutions
Deal Type Add-on Acquisition

Target

Akouba

Chicago, Illinois, United States
Akouba, Inc. is a white label SaaS-based digital lending platform that enables financial institutions to underwrite loans quickly, efficiently, and profitably to small and medium-sized business (“SMB”) customers. Akouba, Inc. was founded in 2014 and is based in Chicago. Illinois.

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Buyer(S) 1

Buyer

Velocity Solutions

Fort Lauderdale, Florida, United States
Category Company
Founded 1995
Sector Software
DESCRIPTION

Velocity Solutions provides technology solutions that drive revenue, service, and compliance for community banks and credit unions. The company's Velocity Intelligent Platform powers all of Velocity’s solutions, using machine-led intelligence that delivers powerful analytics, manages risk, and drives revenue, loans, account holder engagement, and non-interest income to its client financial institutions. Velocity Solutions was formed in 1995 and is based in Fort Lauderdale, Florida.

DEAL STATS #
Overall 1 of 2
Sector (Internet Software and Services) 1 of 2
Type (Add-on Acquisition) 1 of 1
State (Illinois) 1 of 1
Country (United States) 1 of 2
Year (2018) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-14 CourtesyCloud Management Solutions

Louisville, Kentucky, United States

CourtesyCloud Management Solutions LLC is a cloud-based courtesy overdraft management system. The software and processes allow financial institutions of all sizes to automate their overdraft service and manage it as a line of business for enhanced account holder experience, compliance and revenue. CourtesyLimit™ is the risk management component of the system. It provides innovative data analysis capabilities to create dynamic overdraft limits tailored to an individual’s repayment capacity.

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