Credit card giant Mastercard Inc. has acquired Austin financial-technology company Vyze Inc. for an undisclosed sum.
The deal, announced April 16, gives New York-based Mastercard (NYSE: MA) access to tech that can facilitate big-ticket purchases. Vyze's software connects lenders and retailers to offer consumers several options to finance their purchase at the point of sale. In other words, consumers can apply for a loan for something like a refrigerator while they're standing in the checkout line.
Vyze previously raised $13.1 million in an August 2017 series C funding round led by Austin Ventures LP. At the time, the startup had raised $48 million since its 2008 launch.
In addition to Austin Ventures, other investors in Vyze who stand to benefit from Mastercard's buyout include New York-based StarVest Partners and Fathom Capital of Austin.
This story first ran in the Austin Business Journal. Click here to see the rest of the story [subscriber content].
