Intuit acquires IP and hires talent from Proper Finance

Intuit announced today it has acquired intellectual property and hired the team from Proper Finance to join its Fintech & SBSEG Money teams. Based in San Francisco, the Proper Finance team brings deep expertise in digital banking, payments, money movement, and financial operations and infrastructure.

Intuit’s Money portfolio is revolutionizing the way small businesses manage their finances and the Proper Finance team will help accelerate innovation. Our connected tools, expert services, and insights are transforming the speed of money movement while delivering advanced money management capabilities to give small businesses complete control of their money. QuickBooks technology helps power the small business economy, with $560 billion in total money moved on its platform in FY23.

“Our mission is to power prosperity around the world, helping small businesses solve their most pressing challenges in any macro environment. The real magic of our small business ecosystem isn’t just in the services themselves, it’s really in the way they work together,” said James Barrese, Intuit senior vice president of Fintech. “Proper Finance brings deep expertise that will help us accelerate our ability to address this opportunity across the Small Business and Self-Employed Group’s $188 billion total addressable market.” 

“We started Proper Finance to empower every company with modern tools for financial data integrity,” said Kyle Maloney, Proper Finance co-founder and CEO. “Joining Intuit will bring us closer to our goal of improving the health of the financial ecosystem. Together with Intuit, we will expand the impact of our expertise to help companies move and track money accurately and efficiently.”

Proper Finance was founded in 2021 by Kyle Maloney and Travis Gibson. The terms of the deal were not disclosed.