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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. ....
Los Angeles based Fintech InvestCloud Completes Recapitalization, Wealth Platform Now Valued at $1B California-headquartered Fintech firm According to a release, new financial investors are led by Motive Partners with Clearlake Capital Group, L.P. and also includes other InvestCloud client shareholders. Under the terms of the deal, Motive Partners will be contributing two portfolio businesses, Finantix and John Wise, InvestCloud’s Co-founder and CEO, stated: “The recapitalization achieves our first objective. At a valuation of $1 billion, we can reward early investors in the business, while injecting new capital to fuel the next stage of our growth, further supporting our clients’ needs. Crucial to our ultimate objective – which is to build the world’s largest financial supermarket – is the partnership with Rob and the Motive team, Clearlake and the Tegra118 and Finantix businesses.” ....
(1) New financial investors, led by Motive Partners and Clearlake Capital, partner to create next-generation SaaS wealth solutions platform with InvestCloud LOS ANGELES, Feb. 2, 2021 /PRNewswire/ InvestCloud, an award winning global FinTech firm has completed a recapitalization that values the business at $1 billion. New financial investors are led by Motive Partners ( Motive ) with Clearlake Capital Group, L.P. ( Clearlake ) and include other InvestCloud client shareholders. Under the terms of the agreement, Motive Partners will also contribute two portfolio businesses, Finantix and Tegra118, into InvestCloud, creating a global Software-as-a-Service ( SaaS ) wealth solutions platform. The recapitalization achieves our first objective, said John Wise, InvestCloud s Co-founder and Chief Executive Officer. At a valuation of $1 billion, we can reward early investors in the business, while injecting new capital to fuel the next stage of our growth, further supporting ....