November 24, 2011
MyJibe helps you set aside spending money while still reaching your finance goals, and connect with financial advisors in real-time. Its cofounders, Mike Langellier and Brandon Dewitt, will join MoneyDesktop and integrate their product with their acquirer’s, which reaches customers at more than 200 banks and credit unions. The terms of the acquisition were not disclosed.
“The market for personal financial management software delivered through banks and credit unions is really hot right now, is in need of a company to really take the lead, and we (MoneyDesktop & MyJibe) have the same vision for where it needs to go. Joining forces accelerates us down the growth path and into that leadership position significantly,” says Langellier.
This acquisition comes less than a year and a half after MyJibe was founded, during which they received investment from Bloomington incubator SproutBox. According to MoneyDesktop CEO Ryan Caldwell: “I was impressed with the potency of MyJibe’s team. They had accomplished in software and business development what most of our well-funded competitors are still working towards.” Langellier adds that they happened to enter the right market at the right time.
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