Fadel also noted the deal positions Upbound for accelerated growth, enhancing shareholder value through increased scale and a more diversified financial profile.
Brigit’s Impact and Future Role
Brigit, a subscription-based fintech company, provides services like cash advances and credit-building tools. Since its inception, the platform has reportedly saved users around $1 billion in overdraft fees and currently serves nearly 2 million active monthly customers. The business is projected to generate revenues of $215 million to $230 million in 2025, growing to $350 million to $400 million in 2026.
“Brigit has helped everyday Americans build a brighter financial future with innovative financial products leveraging advanced cash flow technology,” Brigit CEO Zuben Mathews said. Following the acquisition, Brigit will operate as a business unit of Upbound, retaining its branding and New York City headquarters. Mathews and co-founder Hamel Kothari will continue leading the company.
Deal Advisors and Legal Counsel
Sullivan & Cromwell LLP and Mayer Brown LLP are advising Upbound on the transaction, while Cooley LLP and Morgan Lewis & Bockius LLP represent Brigit. Greenhill & Co. Inc. and FT Partners served as financial advisers for Upbound and Brigit, respectively.
Growth Potential for Upbound
Upbound’s acquisition of Brigit signals a strategic pivot towards fintech innovation, leveraging Brigit’s established platform to expand beyond lease-to-own services. The deal aligns with Upbound’s goal of serving financially underserved communities while unlocking new growth opportunities.
