US-based switching platform Squeeze has acquired UK-based Youtility, an embedded finance management firm working with banks and Fintechs. The terms of the acquisition were not revealed by the companies.
Youtility’s tech platform is backed by some big firms, including Barclays, The Joseph Rowntree Foundation, Big Society Capital, and Social Tech Trust. Youtility’s current clients include Virgin Money, Wagestream, and Pockit – with several banking partnerships expected to be announced in early 2024.
Squeeze’s acquisition of Youtility is said to be the first purchase of a UK price comparison service by a US price comparison website. Squeeze will utilize the acquisition to enter the UK price comparison market.
Elias Janetis, Founder and CEO of Squeeze, commented on the acquisition:
“I am excited that our expert team and unique technology can help UK consumers to make more informed decisions and to save money on their home finances. Our combined technologies will allow banks to embed essential money-saving actions and help all customers, not just the financially savvy, bring about a new era of price comparison to the UK market.”
Tyler Randolph Boyd, Squeeze’s Chief Strategy Officer, said the combined group will offer a “one-of-a-kind embedded experience both for businesses and their consumers.”