Credit Bureau Connection, a credit report and compliance services provider to automotive dealers, lenders and other end markets and a portfolio company of Capstreet, has purchased CreditDriver Solutions, a soft credit technology company.
CreditDriver Solutions’ main offering is CreditDriver, a consumer authentication and prequalification service for the automotive credit industry. Credit Driver’s Device ID uses mobile carrier data to authenticate a consumer’s identity, allowing for the pre-fill of consumer data and a faster delivery of credit data, including their current automotive tradeline and monthly payment data.
“This acquisition presents a compelling investment opportunity for CBC,” says Rick Pleczko, CEO, operating executive group at Capstreet and executive chair at CBC. “CreditDriver’s credit-building white-label solution has potential applications beyond the automotive market, and we’re excited about possible growth opportunities.”
Willkie Farr & Gallagher LLP provided legal counsel and Deloitte acted as financial advisor for CBC.