Douugh has agreed to acquire Radical DBX, Inc, a US-based B2B fintech platform known as R-DBX.
R-DBX focuses on developing advanced software solutions for data management, particularly in the realms of database technology and data integration. The company aims to streamline the process of handling large volumes of data across various platforms, providing clients with:
- Database Solutions: They offer tools and platforms designed to improve the efficiency and effectiveness of database operations.
- Data Integration: Radical DBX emphasizes the importance of integrating data from disparate sources to enable comprehensive analysis and insights.
- Innovative Technologies: The company invests in research and development to provide cutting-edge solutions that address current data management challenges.
Founded by some of the industry’s best and brightest alumni from organizations like SoFi, Mastercard, Galileo Financial Technology, Urban FT, and Lending Club, R-DBX stays on the bleeding edge of technology. The fintech caters to businesses looking to optimize their data infrastructure and improve their overall data strategy.
Douugh’s Stakk to leverage R-DBX to enter US embedded finance market
Douugh expects the acquisition to enhance the technology and a suite of established long-term client contracts that will generate a stable stream of income for the group, which in the calendar year of 2023 turned over circa $1.1 million.
The group’s specialist in embedded banking solutions is Stakk, which caters to startups, governments, banks, and sports teams.
Stakk intends to launch its service in the United States and upsell these customers, as well as scale up its Australian operation. Its embedded finance technology empowers banks, start-ups, and enterprises to launch their own fintech products & services to their customer bases through a core set of APIs & SDKs, managed through a single platform.
Stakk offers a full range of banking products including:
- KYC/AML/Fraud Monitoring
- Card issuing and processing
- Transaction accounts/wallets
- AI-powered credit decisioning & collections
- Installment loans and revolving credit
- Robo-advisory and share-trading
- Automated money management
- Account-to-account payments
- Cashback and Stockback rewards
- Commenting on the Company’s announcement, Douugh’s Founder & CEO
“Major head start into launching our embedded finance offering”
Andy Taylor, CEO and Founder of Douugh, said: “We are delighted to announce the proposed acquisition of R-DBX. A company born out of leading B2B fintech services business UrbanFT, which has amassed a high-quality customer base of fintechs and financial institutions through their own limited embedded finance offering.
“This acquisition will give us a major head start into launching our embedded finance offering, with a core focus on credit-as-a-service in the US market, as well as scale up our presence in Australia and later in the wider Asia Pacific region. Importantly it gives us the opportunity to commercialise the US component of our technology platform we invested so heavily into developing since our founding. Which is a major win for our shareholders.”
