CAPITAL ONE FINANCIAL CORP acquires Velocity Black (Velocity Mobile Limited)

CAPITAL ONE FINANCIAL CORP acquired Velocity Black (Velocity Mobile Limited), a transaction completed in June 2023.

Velocity Black (Velocity Mobile Limited) operates in Consumer / Premium Products and Experiences. Velocity Black is a digital concierge company whose proprietary platform pairs technology with human experts to deliver travel, entertainment, shopping and dining recommendations and fulfillment to consumers globally, all in one place. Capital One acquired the business to strengthen its ability to deliver premium, high-touch experiences to its customers. The deal brought together two firms focused on solving common consumer pain points, with Velocity Black's service expertise and technology complementing Capital One's premium products and experiences.

Adds a technology-plus-human-expert concierge platform to bolster Capital One's delivery of premium, differentiated experiences and rewards for its cardholders and consumers.

Advisory firms were not disclosed for this transaction.

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