Intuit has signed an agreement to acquire key technology and welcome talented team members from Deserve, a mobile-first fintech company. This directly supports Intuit’s connected business platform strategy to help customers run and grow their business all in one place.
This agreement aligns to our strategy to further invest in and expand our money offerings to support our goal of addressing the critical challenges businesses face: managing cash flow and gaining real-time financial visibility. These challenges are significant, with over 80% of business failures linked to cash flow issues.
“With Deserve’s technology we’re further investing in our efforts to revolutionize money management. I couldn’t be more excited to work with the talented team members from Deserve as we fuel businesses’ growth and empower them to thrive,” said James Barrese, Senior Vice President of Fintech at Intuit.
“I’m proud of our mobile-first technology platform we’ve built at Deserve and the team that brought us to this critical milestone. I couldn’t be more excited to bring our technology to Intuit, a global leader in financial solutions, where we will have a significant impact on consumers and businesses,” said Kalpesh Kapadia, Co-Founder and CEO of Deserve.
Upon close of this agreement, select team members will be joining Intuit. The Palo Alto-based employees will join the Mountain View team and the Pune-based team members will continue to work from Pune, India. The deal is expected to close in Q3 FY25. Terms of the transaction haven’t been disclosed.