Upbound Group Inc., the owner of Rent-A-Center, has agreed to acquire financial technology company Brigit for up to $460 million, the companies announced Thursday. The deal, expected to close in the first quarter of 2025, will integrate Brigit’s digital financial tools into Upbound’s portfolio, expanding its offerings for consumers underserved by traditional financial systems.
Strategic Expansion for Upbound
Plano, Texas-based Upbound will pay $325 million at closing, consisting of 75% cash and 25% in Upbound shares. Additional payments include $75 million in deferred cash over two years and a potential earnout of up to $60 million tied to Brigit’s financial performance in 2026.
“Adding Brigit as the backbone of our financial solutions platform significantly broadens our addressable market,” said Upbound CEO Mitch Fadel. He emphasized that the acquisition aligns with the company’s strategy to diversify its product offerings, which will now include cash advances, budgeting, credit-building tools, financial literacy, and savings programs.
