Detroit-based platform Rocket Companies, the parent of Rocket Mortgage, announced on Monday it is acquiring the personal finance app Truebill for $1.275 billion in cash.

The acquisition, expected to close prior to the end of the year, is a step toward a centralized platform for clients to manage their financial lives, the company said. It’s also a step to diversify as mortgage volume slows.

Founded in 2015, Truebill has reached $50 billion in monthly transaction volume by offering an app to track spending, build budgets and improve credit scores. The deal, which is expected to connect Rocket to details ⇒

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