US-based digital identity verification and fraud prevention platform Socure has acquired Qlarifi, the buy now, pay later (BNPL) consumer credit database, for an undisclosed figure.
Socure says the acquisition will see the company establish “the industry’s first unified identity, anti-fraud, and BNPL credit infrastructure”, with the aim to help consumers build credit responsibly through BNPL and reduce first-party fraud losses for lenders and merchants.
Founded in 2023 by former Klarna and Zip execs, UK-based Qlarifi provides underwriting data for BNPL lenders based on consumers’ transaction history, enabling lenders to make more informed underwriting decisions and protect consumers from overextension.
“We built Qlarifi to solve a very real pain point: the lack of infrastructure to protect consumers from overextending themselves across multiple BNPL providers,” says Qlarifi co-founder and CEO Alex Naughton.
The acquisition will see Socure expand its credit underwriting and decisioning capabilities by combining its Identity Graph intelligence and RiskOS decisioning engine with Qlarifi’s real-time repayment data.
The acquisition of Qlarifi marks Socure’s first of the year, and the company’s first since it acquired AI-powered risk decisioning platform Effectiv in 2024.
Source: https://www.fintechfutures.com/
