Merchant Innovation

Intuit Considering Mobile-Finance App Check Purchase of $350M

According to sources familiar with the situation, Intuit is currently in talks to purchase Check, a Mint-like mobile-finance app that allows users to track and pay bills. The service currently has 10 million users and Intuit is looking reportedly looking to scoop the company up for $350 million, reports the Wall Street Journal.  

The Palo Alto-based Check saw revenues of around $20 million in 2013, up from less than $15 million the year before. The main source of revenue for the company is in-app advertisements, mostly from credit card and insurance companies.

If the deal goes through, Check would the latest in a string of purchases made by Intuit, which already owns such well established services as TurboTax and Quiken. The company has also recently purchased small-business scheduling tool FullSlate, document service DocStoc and tax-return helper GoodApril.

Both Intuit and Check declined to comments on the rumors.

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