Global FinTech InvestCloud has completed a recapitalisation that now values the business at $1 billion.
Under the terms of the agreement, investor Motive Partners will also contribute two portfolio businesses, Finantix and Tegra118, into InvestCloud, creating a global Software-as-a-Service ("SaaS") wealth solutions platform.
Other investors include Clearlake Capital Group, as well as InvestCloud client shareholders.
"The recapitalisation achieves our first objective," said John Wise, InvestCloud's co-founder and chief cxecutive. "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.”
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