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Imagrow Acquires The Unbankers To Combine Technology And Commercial

Nov 15, 2022about 3 years ago

Acquiring Company

iMAGROW

Acquired Company

iMAGROW

LendingFinanceFinancial ServicesLendingFinanceFinancial Services

Description

iMAGROW, a financial technology company, acquires The UnBankers in a move toward consolidation of the brand and offerings.

Company Information

Company

iMAGROW

About

The UnBankers is a financial brokerage who services commercial borrowers, has relationships with more than 200 lending partners, and provides access to financial products related to working capital, receivables financing, equipment financing, commercial real estate, acquisition financing and consulting, and other commercial financing products throughout the United States and Canada. iMAGROW has developed a pre-underwriting platform to speed up the approval and funding process, which will further enhance The UnBankers’ offerings. The combined business will operate as The UnBankers, in a move to differentiate themselves from other finance options. “The stereotypical view of commercial lending is one where a business seeking capital must deal with unnecessary red tape, formality, and constant delays. The UnBankers prides itself on being the opposite of what commercial borrowers have experienced in the marketplace for decades,” says Anthony De Almeida, CEO of The UnBankers. Through this acquisition, the combined companies now have the technology and bandwidth to shrink the processing time and pain felt with commercial financing requests. The UnBankers will now be able to deliver decisions in less than an hour, and term sheets in as little as two to three weeks. The traditional process through channels typically takes eight weeks to ten weeks. “This is an exciting time for us, as it will allow us to deliver more lending products to more deserving companies moving forward, in a quicker timeframe. We are excited to launch our products together in 2023,” stated De Almeida. The acquisition closed November 5, 2022. For further information about The UnBankers, please visit http://TheUnBankers.com Contact: Anthony De Almeida Chief Executive Officer The UnBankers +1 808.940.6360 Anthony@TheUnBankers.com Cameron Gordon Chief Marketing Officer The UnBankers +1 587.223.2345 Cameron@TheUnBankers.com

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed