Array has acquired Hansa, adding business credit furnishing and embedded business credit tools to its consumer-focused platform.
Array, an embeddable fintech platform offering financial wellness tools, has acquired Hansa, a platform that combines full-coverage business credit furnishing with embedded business credit tools. The acquisition extends Array’s offering into the small business and commercial credit market, allowing financial institutions and digital brands to provide both consumer and business credit capabilities to their users through a single provider. Financial terms of the deal were not disclosed.
Business credit tools for partners
Both companies use an API-first architecture and deliver their products in embedded form. Through the acquisition, Array adds embedded business credit monitoring and management tools that integrate directly into a partner’s existing product flow. These tools also create recurring touchpoints through which partners can present business owners with tailored offers for additional products. In addition, Array gains Hansa’s business data furnishing capability, which reports business data and tradelines to the commercial credit bureaus.
Henry Magun, Founder and CEO of Hansa, stated that the company was founded so that business owners could build and view their business credit in the same way consumers have for decades. According to Magun, making credit activity visible to both the business bureaus and the business owner ensures that businesses are recognised for the credit they use and can manage their financial health. He added that joining Array will bring these capabilities to millions of businesses through brands and institutions they already use.
Extending from consumer to commercial credit
Martin Toha, CEO and Founder of Array, stated that Hansa has built the type of embedded, API-driven infrastructure that aligns with Array’s approach. According to Toha, the acquisition allows Array to extend the white-labelled experience its partners use for consumer credit into business credit, giving businesses better access to tools for understanding, building, and using their credit.
Array offers a range of embeddable financial, credit, identity, and privacy protection products designed to help partners attract and retain customers and generate revenue. By adding bureau furnishing alongside monitoring tools, the combined offering allows partners to help small businesses establish a visible credit history, which can influence how those businesses are assessed when seeking financing.
