Source: Business Insider
Summary
Skio, a subscription billing fintech, has been acquired by its competitor Recharge. The founder and former CEO of Skio considers the sale a “healthy exit”. The terms of the deal were not disclosed.
Our Reading
The launch follows a familiar script.
Skio’s sale to Recharge is another example of consolidation in the fintech industry. Skio’s founder is calling it a “healthy exit”, which is code for “we got out before things got worse”. Recharge gets to eliminate a competitor and expand its market share. The real question is, what’s next for Skio’s customers?
Author: Evan Null
