Debitize, a graduate from Bank Innovation‘s sister accelerator INV Fintech, announced today it has acquired rival Debx for an undisclosed amount.

Based in New York, Debitize helps consumers manage their credit cards and bills and thus avoid fees while building credit. Of today’s acquisition of Debx, Debitize CEO and founder, Liran Amrany, said in a statement:

This is a perfect first acquisition for Debitize. Both companies share a similar commitment to our clients’ financial education and empowerment. This represents a compelling and logical deal that benefits the customers and stakeholders of both companies. We are excited to welcome Debx users to Debitize and thrilled to have Debx CEO Ben Psillas join as an advisor. The timing of this acquisition coincides with the upcoming launch of version 2.0 of our app and adds momentum as we continue to meet our growth goals.

Following the acquisition, Debx CEO Ben Psillas will go on to serve as an advisor to Debitize.

Launched in 2014, Debitize handles over $40 million dollars a year in transactions. Most recently, the company launched a feature called Credit Optimizer, a new subscription feature which targets users’ credit utilization to help improve credit scores automatically.

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