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Rocket Companies to Acquire Personal Finance App Truebill for USD 1.275bn in Cash.

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MANews-(C)2009-2021

US-based real estate, mortgage and financial services business platform company Rocket Companies, (NYSE: RKT) has entered into an agreement to acquire personal finance app Truebill for USD 1.275bn in cash, the company said.

Truebill has quickly become the choice for consumers looking to live their best financial lives by managing subscriptions, improving credit scores, tracking spending and building budgets in a simple, easy-to-use app.

The company also renegotiates bills on its clients' behalf saving them as much as 20% on services including cable and telephone bills.

Founded in 2015, Truebill currently has 2.5m members, and has doubled its user base in just the last year.

The company currently analyzes USD 50bn in monthly transaction volume and has saved consumers more than USD 100m since its founding.

Truebill's ability to leverage technology to constantly improve their clients' financial health adds to Rocket Companies' end-to-end real estate and home financing platform and quickly growing automotive sales marketplace bringing Rocket Companies closer to the goal of creating a centralized destination for consumers to manage their entire financial lives.

Each year, Rocket Companies interacts with tens of millions of potential clients looking to purchase a car, buy or sell a home or to get a mortgage

Most of them are simply investigating their options and are not ready to transact.

With the addition of Truebill's financial wellness services, Rocket Companies will have both a new organic growth opportunity and a significant...

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