Accruit, LLC, a financial technology company specializing in escrow and 1031 exchange services, today announced that they have signed an agreement to acquire the assets of PaySAFE Escrow, Inc. including its PaySAFE® web-based escrow technology (www.PaySAFEescrow.com) that allows buyers and sellers the ability to complete online purchases with financial protection and proper documentation.
The acquisition of PaySAFE Escrow, Inc.’s assets, aligns with Accruit’s goal of expanding its financial technology services. Accruit will invest heavily in the marketing and further development of the PaySAFE® online escrow and auction settlement services pioneered by PaySAFE Escrow, Inc.
“The increasing frequency of online transactions worldwide opens a significant opportunity for Accruit to meet this growing need and continue to serve our existing customers as a trusted intermediary,” said Accruit CEO Brent Abrahm. “PaySAFE Escrow, Inc.’s PaySAFE® online escrow platform is positioned as a leader in safe and secure settlement services by partnering with some of the largest marketplaces across many industries.“
PaySAFE Escrow, Inc. currently serves online auctions, insurance settlements, asset acquisitions and collectibles markets. Accruit intends to continue the evolution of the current user interface, develop mobile applications and enhance the API functionality for integration with additional online marketplaces. Matthew Medlock, PaySAFE Escrow, Inc.’s president and founder, will join Accruit as a vice president of business development and lead the growth of the online escrow platform and API integration efforts.
Accruit, LLC is a financial technology company specializing in escrow and 1031 like-kind exchange services. Accruit facilitates all types of commercial and individual transactions by serving as a trusted independent escrow agent and qualified intermediary. Learn more at www.accruit.com.
About PaySAFE Escrow, Inc.
PaySAFE Escrow, Inc. is a wholly owned subsidiary of Ho-Chunk, Inc., the economic development corporation owned by the Winnebago Tribe of Nebraska. PaySAFE Escrow, Inc. is a preferred transaction settlement service that partners with auction houses, online auctions and classified websites to ensure that their customers are financially protected. PaySAFE Escrow, Inc. utilizes its PaySAFE® online escrow technology to level the transactional playing field for online buyers and sellers. Learn more at www.PaySAFEescrow.com.
Learn about Accruit's PaySAFE Online Settlement Services.