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FIRSTDIGITAL TELECOM COMPLETES SENIOR DEBT FINANCING
FirstDigital Telecom , a leading fiber-based carrier in the western United States, today announced that it has raise debt financing from a group of leading investors (“the lenders”), including AllianceBernstein, Deutsche Bank, Guggenheim and Webster Bank.
As a result of the transaction, FirstDigital has recapitalized its balance sheet with high-quality institutional lenders and consolidated its common equity ownership under President and CEO Wesley McDougal. This follows the recent $200 million preferred equity investment by infrastructure funds managed by Apollo (NYSE: APO), as FirstDigital continues to attract blue-chip capital partners and prepares the business to scale. Having successfully executed these series of transactions, the Company is optimally positioned to execute on its ambitious growth plans.
TERMINUS CAPITAL PARTNERS ACQUIRES POOLED INVESTMENT FUND SOFTWARE COMPANY DELTA DATA
TAP Software Holdings, an enterprise software investment vehicle managed by Terminus Capital Partners, today announced the acquisition of Delta Data, a leading FinTech company specializing in providing back-end solutions processing trillions of dollars in assets for the mutual fund, collective investment trust, and broader public pooled investment fund industry. Founded in 1985, Delta Data technology supports four of the top 10 US banks, four of the top five US retirement recordkeepers, and four of the top five US investment managers.
“Pooled investment funds like mutual funds and collective investment trusts are a $35T industry with complex transfer and trading, data tracking, regulatory compliance, and counterparty management challenges. As the largest pure-play and full-suite provider in pooled fund administration software, Delta Data is uniquely positioned for leadership in this important and dynamic market. We look forward to partnering with everyone on the Delta Data team to maximize customer success, to drive profitable growth, and to achieve Delta Data’s vision of being the best pooled fund software company in the world,” says Alex Western, Managing Director at Terminus Capital Partners.
OPORTUN COMPLETES ACQUISITION OF DIGIT, A NEOBANKING COMPANY AND PLATFORM
Oportun , a mission-driven fintech company announced today that it has completed the acquisition of Digit (digit.co), a neobanking platform that provides automated savings, investing, and banking tools. According to the company, the acquisition of Digit further expands its A.I. and digital capabilities to provide hardworking consumers a holistic offering built to address their financial needs.
“This is a transformational deal that positions Oportun for even more future success,” said Raul Vazquez, CEO of Oportun. “With this transaction, we are combining two mission-driven organizations with complementary services, capabilities, and member bases.”
LAURENTIAN BANK ANNOUNCES STRATEGIC PARTNERSHIP WITH BRIM FINANCIAL TO TRANSFORM ITS VISA CUSTOMER EXPERIENCE
Laurentian Bank of Canada announced today a strategic partnership with Brim Financial (“Brim”), one of the fastest growing fintech companies in Canada and a licensed credit card issuer, to fuel its digital transformation and enhance its end-to-end customer journey for its suite of VISA products. Through this partnership, Laurentian Bank will integrate Brim’s unique Platform as a Service (PaaS) to accelerate the Bank’s digital capabilities, simplify its VISA ecosystem, close foundational gaps in its offering, and differentiate its products in the market. Laurentian Bank and Brim plan to bring the new experience to the market in 2022.
VISA COMPLETES ACQUISITION OF CURRENCYCLOUD
Visa today announced it has completed the acquisition of Currencycloud, a global platform that enables banks and fintechs to provide innovative foreign exchange solutions for cross-border payments.
The acquisition will empower Visa and Currencycloud clients and partners to provide greater transparency, flexibility and control for consumers and businesses when making international payments or doing business in multiple currencies.
The acquisition builds on an existing strategic partnership between Currencycloud and Visa. Currencycloud’s cloud-based platform already supports over 500 banking and technology clients with reach in over 180 countries and will continue to serve and support its customers and partners across the industry.
ROCKET COMPANIES TO ACQUIRE TRUEBILL, ADDING RAPIDLY EXPANDING FINANCIAL EMPOWERMENT FINTECH TO THE ROCKET PLATFORM
Rocket Companies, the Detroit-based platform company consisting of tech-driven real estate, mortgage and financial services businesses – including Rocket Mortgage, Rocket Homes and Rocket Auto – today announced it has entered into an agreement to acquire Truebill, the leading personal finance app that helps consumers manage every aspect of their financial lives, for $1.275 billion in cash.
Truebill has quickly become the choice for consumers looking to live their best financial lives by managing subscriptions, improving credit scores, tracking spending and building budgets in a simple, easy-to-use app. The company also renegotiates bills on its clients’ behalf – saving them as much as 20 percent on services including cable and telephone bills.
HEARSAY SYSTEMS OFFERS FINANCIAL INDUSTRY’S FIRST AI-POWERED VIDEO COMPLIANCE PRE-REVIEW SOLUTION
Hearsay Systems, the trusted leader in compliant digital communications that deliver an authentic, human-client experience for the financial services industry, today announced the release of the first AI-powered solution to dramatically reduce the time and effort associated with reviewing videos financial advisors post across their social channels. This new, highly scalable solution is a first for the financial services industry. It allows users to publish video content faster by leveraging AI to detect inappropriate material and an automated speech-to-text lexicon review to ensure that all videos are in full compliance with industry standards before they are posted. Hearsay also unveiled a new feature that adds compliance support for direct messages sent through Instagram. These advances make it easier and more efficient than ever for advisors to use digital channels to connect with clients and prospects.
AVANT BANKING LAUNCHES FOLLOWING ZERO FINANCIAL ACQUISITION
Avant, a leading financial technology company that gives middle-income consumers access to the credit they deserve, announced today the initial launch of Avant Banking.* The debut of Avant Banking expands the company’s financial product portfolio of personal loans, credit cards and auto refinance, and follows its acquisition of Zero Financial, Inc. and its digital banking app, Level, in April.
Available now, Avant Banking includes access to spending accounts, debit cards,1 ACH transfers2 and, for those with direct deposits, access to payday funds up to two days early.3 After making a deposit, customers are issued a virtual card that can be immediately added to Apple Wallet® or Google Pay.™5
SUSTAINABLE FINTECH CARBONPAY LAUNCHES PREPAID BUSINESS PAYMENT CARD: HELPING COMPANIES TO AUTOMATICALLY OFFSET THEIR CARBON FOOTPRINT WITH EVERY TRANSACTION
CarbonPay, a sustainable fintech platform that offers the planet’s most impactful payment cards and makes everyday climate action simpler, today announced the launch of its corporate prepaid offering, CarbonPay Business Ctrl. With this launch, CarbonPay offers a prepaid card for businesses in the U.S. and U.K. that helps offset their carbon footprint automatically with every transaction; for every £1 / $1.50 spent, CarbonPay offsets 1kg of CO2 at no extra cost. The simple and transparent pricing plan scales with any business, where businesses can add as many or as few people as needed, paying £5 / $5 a month per cardholder.
KLARNA COMPLETES ACQUISITION OF PRICERUNNER
Klarna, a leading global retail bank, payments, and shopping service today announced the completion of its acquisition of PriceRunner, the leading comparison shopping service in the Nordic region with operations in Sweden, Denmark, Norway and the United Kingdom.
ENCORE CAPITAL GROUP, INC. AMENDS AND EXTENDS ITS GLOBAL SENIOR FACILITY
Encore Capital Group, Inc., an international specialty finance company, today announced that it had amended and restated its existing global senior secured revolving credit facility agreement to, among other things, increase the size of the facility by $90 million to $1.14 billion and extend the termination date of the facility from September 2025 to September 2026.
FIRST EAGLE INVESTMENTS TO ACQUIRE NAPIER PARK GLOBAL CAPITAL, EXPANDING ALTERNATIVE CREDIT CAPABILITIES
First Eagle Investments today announced a definitive agreement to acquire Napier Park Global Capital, a leading alternative credit manager with approximately $18.7 billion in assets under management as of December 31, 2021, predominantly for institutions through credit funds, US and European collateralized loan obligations, and real assets. As an autonomous, wholly owned unit of First Eagle Investments, Napier Park will go to market as “Napier Park, a First Eagle Investments Company” and maintain its investment approach, business focus and client service.
SEACOAST ANNOUNCES THE ACQUISITION OF APOLLO BANCSHARES, INC.
Seacoast Banking Corporation of Florida, the holding company for Seacoast National Bank, announced today that it has signed a definitive agreement to acquire Apollo Bancshares, Inc., parent company of Apollo Bank based in Miami, FL. The proposed transaction will expand Seacoast’s presence in Miami-Dade County, part of the Miami-Fort Lauderdale-Pompano Beach metropolitan statistical area, Florida’s largest MSA and the 8th largest in the nation.
PAPAYA GLOBAL TO ACQUIRE DIGITAL CROSS-BORDER PAYMENTS SERVICE AZIMO, MAKING PAYMENTS INSTANT AND UNBOUND BY GEOGRAPHY
Papaya Global, the global people management platform for the remote working era, announced today that it has agreed to acquire Azimo, the global digital cross-border payments service, making it possible to pay employees almost instantly regardless of geography and typical payroll limitations.
DIGITALGEN FINANCIAL SERVICES IS DISRUPTING THE INDUSTRY WITH ITS CRYPTO SAVVY FINANCIAL ADVICE
DigitalGen Financial Services is helping clients plan their financial futures while using tools from the world of digital finance. Providing virtual online services, they are filling a gap in the market when it comes to financial advisors and professionals who are knowledgeable about new technologies including cryptocurrency and blockchain. With a focus on the future of digital technology, DigitalGen works with clients to help them become financially literate across many investment methods.
MIZUHO FINANCIAL GROUP ANNOUNCES STRATEGIC COLLABORATION WITH GOOGLE
Mizuho Financial Group, Inc. and Google Cloud have announced a strategic collaboration to accelerate the Group’s digital transformation and retail innovation strategy. “The global spread of COVID-19, along with megatrends such as digitalization, the aging population, and globalization, have led to significant changes in our lifestyles and economies. To deliver on the needs of our customers in this new era, we’re working with Google to enhance our operational capabilities, innovate across our online and mobile channels, and transform our corporate culture.