Fox Corp. will buy 67 percent of the company and commit up to $75 million of growth capital over the next two years.
Fox Corp. said Sunday that it has entered into an agreement to buy a majority stake in Credible Labs Inc., which touts itself as "a leading consumer finance marketplace in the U.S."
Credible allows consumers to compare pre-qualified rates from multiple institutions across student loans, personal loans and mortgages, "helping consumers save money and make better financial decisions," according to Sunday's release. Credible Founder and CEO Stephen Dash will continue to serve in his current role. As part of the deal, he'll exchange shares equal to 33 percent of Credible's outstanding common stock into units of a newly created Fox subsidiary.
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