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News & Updates - Tuesday, July 11, 2006

Online Check Cashing Services Trend-Watch - CashNet USA Bought For $35M

We posted yesterday on Austin Ventures' new start-up which sounds like an online paycheck advance service. Today we learn that off-line pay-check advance service Cash America [NYSE:CSH]has bought online service CashNet USA for $35M.

CashNetUSA says its gross cash advance portfolio recently reached $22M and it estimates that it has served over 250K customers since inception.

Read - Cash America Agrees to Acquire CashNet USA Online Lender


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