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InvestCloud aims to be the Amazon of wealthtech with Tegra118 merger
Global fintech InvestCloud completed a recapitalization that establishes the firm as the latest fintech unicorn while positioning it to rival TAMP offerings, according to experts.
February 3, 2021 2 MINS
Global technology platform InvestCloud is ready to have a seat at the table with wealthtech powerhouses like Envestnet after the completion of a recapitalization that drove it to reach unicorn status with a $1 billion valuation.
The recapitalization, announced Tuesday, includes fresh investments led by Motive Partners and Clearlake Capital Group. As part of the agreement, Motive Partners included the consolidation of its two portfolio businesses, Tegra118 and Finantix, into the InvestCloud platform a move that could position the fintech to rival TAMP offerings.