Intuit has finalized an agreement to acquire key technological assets and a group of employees from Deserve, a mobile-focused financial technology firm. This move supports Intuit’s ongoing strategy to provide a connected platform that allows businesses to manage operations and economic activities in one place. The Deserve team members based in Palo Alto will join Intuit’s Mountain View office, while those in Pune will continue their work from India.
The acquisition aims to strengthen Intuit’s money management offerings, particularly in helping businesses address challenges around cash flow and access to timely financial data. Leaders from both companies have expressed enthusiasm about the integration. Intuit’s Senior Vice President of Fintech, James Barrese, stated that the added capabilities will support the company’s efforts to improve financial tools for its users. Meanwhile, Deserve’s CEO, Kalpesh Kapadia, noted, “I’m proud of our mobile-first technology platform we’ve built at Deserve and the team that brought us to this critical milestone. I couldn’t be more excited to bring our technology to Intuit, a global leader in financial solutions, where we will significantly impact consumers and businesses.” The deal is a step toward more streamlined financial solutions for small and medium-sized businesses.
