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FT Partners Advises Truebill on its $1,275,000,000 Sale to Rocket Companies

Overview of Transaction

  • On December 20, 2021, Rocket Companies (NYSE: RKT), the Detroit-based platform company consisting of tech-driven real estate, mortgage and financial services businesses, announced it has entered into an agreement to acquire Truebill, the leading personal finance app that helps consumers manage every aspect of their financial lives
  • Rocket will acquire Truebill for approximately $1.275 billion in cash
  • Founded in 2015, Truebill currently has 2.5 million members, and has doubled its user base in just the last year
  • The Company currently analyzes $50 billion in monthly transaction volume and has saved consumers $100 million+ since its founding
  • Truebill’s ability to leverage technology to improve its clients’ financial health adds to Rocket’s end-to-end real estate and home financing experience, expanding real estate platform, and quickly growing automotive sales marketplace

Significance of Transaction

  • The acquisition of Truebill accelerates Rocket Companies’ vision to help clients in complex moments; Truebill will deepen engagement with clients and help millions of consumers improve their financial lives
  • The acquisition brings millions of clients to the Rocket platform and adds more than $100 million in annual recurring revenue and supports a new organic growth opportunity and a significant channel to nurture clients – keeping them engaged in Rocket’s FinTech ecosystem by providing value between the large financial transactions that Rocket Companies is known for

FT Partners' Role

  • FT Partners served as exclusive financial and strategic advisor to Truebill
  • This transaction highlights FT Partners’ deep domain expertise in the Consumer FinTech sector, and its successful track record generating highly favorable outcomes for high-growth FinTech companies globally