Capital One acquires mobile price tracker Paribus

Capital One acquires mobile price tracker Paribus

Capital One is continuing its fintech shopping spree, buying online price tracker Paribus for an undisclosed fee.

Conceived in a Brooklyn apartment two years ago, Paribus now claims 700,000 user of its service, which alert subscribers to price reductions on recently-purchased products on the assumption that merchants will match the price in a post-sale enquiry.

The acquisition expands Capital one's portfolio of mobile products and smart startup buyouts. The US company in the past two years has acquired a raft of small firms bringing innovative technology to bear on the customer experience, including Bundle, BankOns, Adaptive Path, Level Money and Monsoon.

Paribus has raised $2 million in startup funding to date, and its twelve-person team will continue to operate independently from its New York base post-acqusition.

"Today, our infrastructure processes billions of dollars in annual purchases, our product saves people significant time and money, and our user base continues to scale rapidly," says Paribus co-founder and CEO Eric Glyman. "Within Capital One, we can supercharge these efforts."

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