Deals
Capital One Buys Concierge App Offering Dolomite Skiing, Sperm Whale Swimming
- Credit-card giant buys Velocity Black to lure premium clients
- Offerings include skiing in Dolomites, swimming with whales
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Capital One Financial Corp. agreed to buy the digital concierge service Velocity Black as it pushes deeper into premium credit cards and other luxury markets dominated by American Express Co. and JPMorgan Chase & Co.
The deal gives Capital One a global platform focused on luxury travel, entertainment, shopping and dining, according to a statement Thursday. Terms weren’t disclosed, though Velocity Black says on its website it’s backed by $28 million in venture capital.