Constellation Digital Partners, the fintech targeting digital banking solutions for credit unions, is adding services from Raleigh startup WalletFi, acquiring the company for an undisclosed price.
The deal was announced early Tuesday.
Financial terms were not disclosed.
“Constellation is live with five credit unions and has contracts signed for the next four implementations,” a spokesperson told WRAL TechWire. “WalletFi serves banks and credit unions and will double Constellation’s collective client base.”
Constellation Digital Partners said it would retain the WalletFi team.
WalletFi has been a fantastic partner from the beginning, and we’re elated to expand on our relationship with their team through this acquisition,” said Kris Kovacs, Constellation’s CEO, in a statement. “Pairing WalletFi’s technology with the power of our Digital Banking Services will enable our clients to offer truly unique and intuitive services that engage and delight their users. We’re also pleased to be adding the leadership and experience of the WalletFi team to our own.”
WalletFi provides a subscription management solution and is Analytics-as-a-Service provider that “unlocks the intelligence within transactional data and delivers insights to expand customer relationships and boost non-interest income for financial institutions,” Constellation noted in the announcement.,
“Transactional data intelligence is a natural extension of the Constellation platform and highlights data’s critical role as an enabling capability.,” Constellation explained in the announcement. “This acquisition will enhance Constellation’s digital service offerings and empower Constellation to have an increased opportunity to work with community-based financial institutions in new and exciting ways.”
As part of this acquisition, Constellation will retain the entire WalletFi team.
“WalletFi is extremely excited to be coming together as one with Constellation,” said Marc Miller, WalletFi CEO and Co-Founder. “We look forward to accelerating Constellation’s vision to free community financial institutions from the limitations of legacy systems, allowing them to move ahead with next-generation innovations from an entire ecosystem of fintechs and developers.”
Original Article Source: WRAL TechWire