Just months after revealing it was testing lending directly to consumers through its Cash App, Square says it is buying the tax business of Credit Karma to bring tax preparation to Cash App customers.
Just months after revealing it was testing lending directly to consumers through its Cash App, Square says it is buying the tax business of Credit Karma to bring tax preparation to Cash App customers. The Cash App has been growing in popularity and use cases for Square, buoyed in part through its recent bitcoin trading capabilities. But Square’s $50 million deal for Credit Karma’s do-it-yourself tax filing capabilities brings a traditional financial tool to its users, and the separation of the tax business also cleared the way for the Department of Justice to approve Intuit’s $7 billion acquisition of Credit Karma.
