Credit Engine merged Land Data Bank, Inc.
Credit Engine, Inc. (Minato-ku, Tokyo; CEO: Seiichiro Uchiyama); a provider of online lending platforms, announces that effective December 15, 2022, merged by absorption Land Data Bank Inc. (LDB).
Purpose of the Merger
Credit Engine has been supporting the digitization of lending operations by providing an online lending system and credit model mainly for top domestic banks and local regional financial institutions. In the impact of Covid-19 from 2020, we have received increasing inquiries and consultations from business corporations. In order to strengthen support for the launch of financial services for a wide range of business companies, including supply chain finance, and not limited to top banks and regional financial institutions, in October 2022, Credit Engine acquired shares of LDB. This company provides supply chain finance services in the construction industry and has strengths in data utilization know-how and establishing industry-specific screening models.
By fully integrating the two companies in terms of organization, we aim to strengthen the development further and improve the quality of our services.
Summary of the Merger
(1) Merger Schedule
Date of resolution by the Board of Directors: December 14th, 2022
Merger agreement execution date: October 26th, 2022
Effective date: December 15th, 2022
(2) Method of merger
The merger will be an absorption-type merger with Credit Engine, Inc.
(3) Trade name, etc., after the merger
There will be no change in the trade name, representative, fiscal year-end, or capital of the surviving company.
For press inquiries, please contact:
Credit Engine, PR