Two home finance applications are combined
Homebot, a finance portal designed to facilitate ongoing communication between customers and lenders, acquired Menlo Park-California-based Quo Finance, a mobile app that provides financial guidance for first-time home buyers.The partnership will merge both platforms together and will expand Homebot’s database of users, potentially increasing return business for real estate agents and lenders that use the Colorado-based company’s product. The details of the acquisition have not been disclosed. Charlie Pratt, CEO at Homebot, stated that Quo will “massively accelerate Homebot’s mission of connecting people to make informed homeownership decision,” in a written statement. Homebot’s customers will be able to offer a Homebot mobile app to their millions engaged clients later this year and attract more homebuyers to their pipelines. The app, Quo, was launched in 2018 and helps users prepare for mortgage approval. Quo’s app offers advice on money management, debt repayment, and credit scores. It is now part of Homebot. Quo co-founder Haas stated that Quo was a personal project. He was also proud of the accomplishments of Quo over the past four years. “I grew up in a family that suffered financial hardship due to medical debt. I was shocked at how broken the financial system was. Quo was founded to help families with similar financial challenges find the path to homeownership. “Partnering with Homebot ensures that we will continue to grow our mission and empower millions towards their goals for home ownership and building wealth,” he said.