CreditKarma is a popular multinational personal finance company offering free services like credit reports, credit checks, and financial advice to its users. It is the United States’ largest free credit monitoring service, and it was bought by Intuit in 2020 in a deal valued at over $8 billion.
CreditKarma has been wise to aggressively target lower-income users and those in need of credit help. CreditKarma is able to score users with “thin” credit files, approximately 62 million Americans. Plus, in keeping its services entirely free it beats out its closest competitor Credit Sesame, who reserves some of its services for premium customers.
During the first fiscal quarter of 2022, Credit Karma contributed $418 million in revenue to Intuit. That’s compared to just $144 million and $316 million in its first two quarters as part of Intuit. However, 2023 has seen a decline in revenue due to downturns for personal, home and auto loans thanks to a strain on the global economy. Regardless, Credit Karma continues to perform strongly.
Freddie
Company Specialist at Welcome to the Jungle