PE Tech Report

Finance & Insurance

Moneyfarm raise GBP44.1m in funding round led by M&G

MFM Holding Ltd (Moneyfarm), a digital wealth manager, has raised GBP44.1 million in a funding round led by M&G plc (M&G) and included Poste Italiane SpA (Poste), who has been a minority shareholder in the business since 2019. Moneyfarm has now raised GBP139 million since launching in 2021. The new

IFC, LeapFrog Investments and DEG invest in Vietnam’s HDBank

IFC, LeapFrog Investments, and DEG – Deutsche Investitions- und Entwicklungsgesellschaft – have invested USD165 million in convertible Tier 2 bonds issued by Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank), a Vietnamese private retail and SME bank. While strengthening the bank’s capital base, the funding will help increase lending

Shakepay raises CAD44m in Series A round led by QED Investors

Shakepay, a Canadian bitcoin technology company enabling customers to easily buy and earn bitcoin through financial applications, has raised CAD44 million in a Series A investment, at a CAD313m valuation. The round was led by QED Investors, a US-based venture capital firm that invests in businesses that disrupt and empower

FCG partners with IK

European private equity firm IK Partners, via the IK Small Cap III Fund, is to acquire FCG, from international private equity group Bridgepoint. The deal, which is subject to customary regulatory approvals, is expected to close in the second quarter of 2022. Financial terms of the transaction have not been

CBPE Capital completes investment in Direct Commercial Group

CBPE Capital (CBPE) has completed its investment in Direct Commercial Limited (DCL) and Carraig insurance Company Limited (Carraig) (together Direct Commercial Group, DCG) alongside Phil Cunningham (founder and CEO) and Management. DCL is a commercial motor insurance specialist. As a full-service MGA (Managing General Underwriter/Agent), DCL provides underwriting services, offers

Greycroft and Crosslink lead USD12m Series A investment in Amplify

Amplify Life Insurance, a digital life insurance platform focused on helping customers build wealth through permanent life insurance, has raised USD12 million in a Series A funding round co-led by Greycroft and Crosslink Capital. Other investors who participated include Conversion Capital, Anthemis, and Transverse Asset Management. Amplify is digital platform

Palatine-backed Suntera acquires Nedgroup Trust

Palatine-backed Suntera Global has enhanced its presence in the Channel Islands with the acquisition of specialist fiduciary services provider, Nedgroup Trust Limited. Suntera says the deal strengthens its offering and extends its reach into an additional tier one jurisdiction in Guernsey. Nedgroup Trust Limited has a 70 strong team of

PE firm Nile Capital acquires minority stake in hedge fund Welton

Private equity firm Nile Capital Group Holdings has acquired a minority stake in hedge fund manager Welton Investment Partners, according to a report in Pensions & Investments. Terms of the transaction, which was completed on 15 December, have not been disclosed. Nile Capital specialises in taking general partners stakes in

Genstar and Oak Hill-backed Mercer Advisors acquires Wrenn Financial Strategies

Mercer Global Advisors, a full-service wealth management firm and national Registered Investment Adviser (RIA) backed by private equity firms Genstar and Oak Hill Capital, has acquired Wrenn Financial Strategies, a wealth management firm located in Raleigh, North Carolina. Wrenn serves over 150 clients with assets under management (AUM) of approximately

Boosted.ai Raises USD35m in Series B led by Ten Coves Capital

Boosted.ai, a distributed machine learning platform for global investment professionals, has closed a USD35 million Series B financing round, led by Ten Coves Capital and Spark Capital. Portage Ventures, Royal Bank of Canada (RBC) and HarbourVest Partners also participated in the round. Inclusive of seed capital, Boosted.ai’s total funding now

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