Credible acquires Young Alfred

Credible, the digital lending marketplace, is acquiring Young Alfred, the personal lines digital insurance broker.

Founded in 2016, Credible Insurance raised around $12 million and it counts 36 employees. Its site has averaged ~70k monthly visits since the beginning of the year and it claims to have covered more than $6 billion in property since launching. Credible, on the other hand, raised around $25M and averages over 1M monthly website visits.

“We are pleased to welcome the Young Alfred team to Credible. By integrating Young Alfred’s technology and marketplace onto Credible’s platform, and leveraging the expertise of the team, we are now able to provide consumers with a one-stop-shop for their lending and insurance needs. We are leading the market in providing personalized recommendations to consumers across a broad range of products. Now with 90 lending and insurance partners, Credible’s platform is one of the most comprehensive and sophisticated in the market. Because we have deeply integrated with our partners’ underwriting models and origination processes, we are able to provide transparent, automated recommendations to our users. We very much look forward to adding insurance products to this experience.” – Stephen Dash, founder & CEO of Credible.

Bottom Line: Insurance lives within the broader category of financial services.