Our client and partner, BBVA has closed the deal to purchase Simple.com, a U.S. company that has created a new form of digital banking for 117 million dollars.
Simple.com, based in Portland, offers more than 100,000 of its customers everything they need to spend wisely and save even more. It also makes it possible to have a Simple Visa card, and advanced applications for Android and Apple that include different savings tools and customer service.
The platform will continue to operate under the same brand with the same philosophy and approach towards customer experience. It will even keep its managers and staff composed of 92 employees.
BBVA will close the purchase through its U.S. subsidiary, BBVA Compass Bancshares, Inc., which, in the future, will help Simple develop new products and services. With the support of the BBVA Group, Simple is looking to expand beyond the United States and enter into new markets.
The investment in this project is an example of BBVA’s commitment towards innovation by constant technological changes transforming the financial industry. BBVA is launching new products and services through a number of initiatives, developed both internally and through investments in cutting-edge startups, aiming to reinvent the financial services industry.
