IDIQ Announces Acquisition of Credit & Debt
Company adds fintech and financial education company to suite of member services
TEMECULA, Calif., June 7, 2022 (Newswire.com) - IDIQ, an industry leader in identity theft protection and credit report monitoring, today announces its acquisition of Credit Swag Ventures, Inc., which does business as Credit & Debt and operates the website https://creditanddebt.org.
The Credit & Debt acquisition allows IDIQ to further extend its financial wellness toolset and financial educational content for members as well as gain a dedicated and seasoned team to focus on third-party opportunities for its members across the financial services landscape. Credit & Debt is a fintech and financial education company that provides guidance for those looking to manage debt, monitor credit, find loans or credit cards and more. They also offer Money Sensei™ - an interactive financial management platform that intelligently analyzes spending habits, helps manage budgets and encourages paying off debts faster - along with educational content and connectivity to best-in-class financial services providers.
"We are excited to announce our second acquisition for 2022. This acquisition, like others, furthers our goal of financial inclusion and provides customers with the tools they need throughout their financial journey," said Surya Pochareddy, IDIQ executive vice president and head of mergers and acquisitions. "We have an innovative roadmap to further combine the Credit & Debt integrated personal banking data, Money Sensei, and financial partner relationships with our features and customer base."
Scott Hermann, IDIQ CEO, agreed, saying, "We are thrilled to add Credit & Debt to our suite of member services. This acquisition means Credit & Debt now has additional resources to move forward with an ambitious growth strategy that will benefit consumers looking to positively impact their financial profile."
With the acquisition, IDIQ also gains the expertise of industry veteran Jeff Mandel, CEO of Credit & Debt. Mandel will continue to lead Credit & Debt and head third-party opportunity efforts as president of IDIQ Monetization. Mandel has more than 30 years in the banking, homeownership services and credit industries and co-founded Credit & Debt in 2019.
"I'm excited Credit & Debt has become a part of IDIQ," Mandel said. "IDIQ and Credit & Debt have similar missions to empower members to make personal financial decisions that help them reach their financial goals. This acquisition enables us to reach materially more consumers to bring them these essential tools, especially at a time when so many people across the United States need help."
IDIQ is one of the fastest-growing companies in America, earning two consecutive spots on the prestigious Inc. 5000 List that has also featured Microsoft, Patagonia, Intuit and Under Armour as previous list honorees. In the past year, the company has had significant growth of its active customers on the platform, which has led to record revenue. Additionally, over the last year, the company has hired more than 125 employees to meet increased consumer demand for credit report and identity theft monitoring.
The company also recently announced its acquisition of Resident-Link™, a service for the rental community to allow consumers access to help build and establish their credit through positive rental-payment reporting to major credit bureaus.
IDIQ® is recognized as one of the fastest-growing industry leaders in identity theft and credit report monitoring. Featuring the IdentityIQ®, MyScoreIQ® and Resident-Link™ brands, the company delivers identity theft protection, credit report information, education and financial inclusion that benefits consumers and businesses. The company features 100% U.S.-based customer service and support. For more information, visit www.IDIQ.com.
Public Relations, IDIQ