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Embedded finance platform Array has acquired fellow New York-headquartered fintech Hansa for an undisclosed sum.
Founded in 2023, Hansa combines full-coverage business credit reporting with embedded small and medium-sized business (SMB) credit tools.
As part of Array, Hansa will enable the platform to offer embedded business credit monitoring and management tools, tradelines and data reporting to commercial credit bureaus, and customised retargeted offers based on credit insights.
Founded in 2020, Array's flagship My Credit Manager service lets financial institutions embed the company's native API or white-label solution to help increase their customers' credit awareness. Array also offers a range of digital finance tools, including identity security solutions and tools for subscription management and debt monitoring.
Martin Toha, CEO and founder of Array, says that the acquisition extends its consumer credit capabilities "into the business credit space — giving businesses better access to the tools they need to understand, build, and leverage their credit".
Related:Acorns acquires social finance app Frich Money
Hansa marks Array's fourth acquisition of the year. In February, the fintech announced three new acquisitions, starting with Chimney, a provider of financial calculators and intelligence tools. This was followed by the purchase of Penny Finance, a provider of spending awareness and financial planning tools, and EarnUp, which enables consumers to align debt and bill payments with their pay cycles.
About the Author
Reporter, FinTech Futures
Francis Bignell is a reporter at FinTech Futures with a keen interest in all things fintech, especially in the Latin America region. Writing in the industry for four years, he has moderated webinars and podcasts as well as interviewed executives from a wide range of sectors.