Intuit's $728 Million Trading Day Secures 99th Spot as Fintech Acquisition Boosts Business Platform
1min read On April 14, 2025, Intuit's trading volume reached $728 million, ranking 99th in the day's stock market. intuit (INTU) rose 1.11%, marking two consecutive days of gains, with a total increase of 2.78% over the past two days.
Intuit has entered into an agreement to acquire key technology and welcome talented team members from Deserve, a mobile-first fintech company. This move supports Intuit’s strategy to enhance its connected business platform, aiming to help customers manage and grow their businesses in one place. The acquisition aligns with Intuit’s goal to expand its financial offerings, addressing critical business challenges such as cash flow management and real-time financial visibility. Over 80% of business failures are attributed to cash flow issues, making this acquisition a strategic move to support businesses in overcoming these challenges.
James Barrese, Senior Vice President of Fintech at Intuit, expressed excitement about the acquisition, stating that Deserve’s technology will further revolutionize money management. He also welcomed the talented team members from Deserve, highlighting their role in fueling business growth and empowerment. Kalpesh Kapadia, Co-Founder and CEO of Deserve, expressed pride in their mobile-first technology platform and the team's achievements, looking forward to the significant impact their technology will have on consumers and businesses at Intuit.
Upon the closure of the agreement, select team members from Deserve will join Intuit. The Palo Alto-based employees will integrate with the Mountain View team, while the Pune-based team members will continue working from Pune, India. The deal is expected to close in the third quarter of fiscal year 2025, with the terms of the transaction remaining undisclosed.
