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Credit Sesame acquires Canadian challenger Stack for international expansion

June 19, 2020 / Alex Hamilton
SHARESHARESHARE

Credit and loans company, Credit Sesame, has announced its acquisition of Canadian challenger bank, Stack.

The two firms had been in partnership since the 2019 design of Sesame Cash, a no-fee digital banking service “to help consumers grow their cash and credit together” which launched in March.

That service saw more than 200,000 sign up in less than a month, and demand “continues to surge”, according to Credit Sesame.

All Stack employees are to be integrated into Credit Sesame, including former CEO, Miro Pavletic, who becomes general manager for Canadian and international business.

The move is part of an attempted international expansion. Credit Sesame’s credit services will be integrated with Stack’s digital banking offering to bring cash and credit management to Canadian consumers.