Fintech giants merge to create global wealth platform
Business will have $4trn in assets California-based global fintech firm Investcloud has recapitalised the business at $1bn (£730m, €824m) following investment from Motive Partners and Clearlake Capital Group. Under the agreement, Investcloud will merge with Motive’s two portfolio businesses, Finantix and Tegra118, to create a global software-as-a-service (Saas) wealth solutions platform. Following the merger, the global fintech business will reach $4trn in assets. ‘Fuel’ growth John Wise, Investcloud’s co-founder and chief executive, said: “The recapitalisation achieves our first...
Source: international-adviser.com