FirstCash to acquire American First Finance for $1.47bn.

FirstCash, the international operator of pawn stores with more than 2.8k retail pawn and consumer lending locations in 25 US states, agreed to acquire American First Finance, a consumer financial technology company that provides alternatives to traditional retail lending and designs solutions to support both businesses and their financially underserved or overlooked customers, for $1.47bn. “Since our founding more than 30 years ago and through the merger of First Cash and Cash America in 2016, we have successfully executed on our growth strategy and established FirstCash as a leading retailer and provider of financial services to underserved consumers, while delivering significant value to shareholders. Building on the complementary strengths of FirstCash and American First Finance, this transaction diversifies us beyond our core pawn business with the addition of a fast-growing segment that significantly expands our customer base and introduces a scalable, technology-driven product set into our organization,” Rick Wessel, FirstCash CEO and Vice-Chairman of the Board.