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Kipp Targets US Expansion After LTVCo Acquisition

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Kipp Targets US Expansion After LTVCo Acquisition

FinTech platform Kipp plans to accelerate its expansion in the United States after being acquired by an investor group led by The Lifetime Value Company (LTVCo) and its founders, the company said in a Thursday (Oct. 29) press release emailed to PYMNTS.

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Kipp will continue to operate independently, led by co-founders Chanan Lavi as CEO and Nir Levy as chief technology officer, according to the release.

Under the company’s new ownership and its substantial long-term financial backing, Kipp will have the resources it needs to expand its U.S. presence, invest in its technology and partner with issuers and merchants, the release said.

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Kipp solves the challenge of nonsufficient fund (NSF) card declines faced by merchants and card issuers by allowing merchants to pay a premium for transactions that would otherwise be declined. Issuers still determine which transactions they approve, and the premium they require for taking on additional risk, while consumers pay no additional fee, per the release.

S. issuer and merchant network and bringing more transactions onto the platform,” Lavi said in the release.



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