Accruit, LLC, a financial technology company specializing in escrow and 1031 exchange services, announced that they have signed an agreement to acquire the assets of PaySAFE Escrow, Inc. including its PaySAFE® web-based escrow technology that allows buyers and sellers the ability to complete online purchases with financial protection and proper documentation.

The acquisition of PaySAFE Escrow, Inc.’s assets, aligns with Accruit’s goal of expanding its financial technology services. Accruit will invest heavily in the marketing and further development of the PaySAFE® online escrow and auction settlement services pioneered by PaySAFE Escrow, Inc. 

“The increasing frequency of online transactions worldwide opens a significant opportunity for Accruit to meet this growing need and continue to serve our existing customers as a trusted intermediary,” said Accruit CEO Brent Abrahm. “PaySAFE Escrow, Inc.’s PaySAFE® online escrow platform is positioned as a leader in safe and secure settlement services by partnering with some of the largest marketplaces across many industries.“

PaySAFE Escrow, Inc. currently serves online auctions, insurance settlements, asset acquisitions and collectibles markets. Accruit intends to continue the evolution of the current user interface, develop mobile applications and enhance the API functionality for integration with additional online marketplaces. Matthew Medlock, PaySAFE Escrow, Inc.’s president and founder, will join Accruit as a vice president of business development and lead the growth of the online escrow platform and API integration efforts.