Payment Expert’s Post

Float raises $70M in Series B funding, led by Goldman Sachs Growth Equity, bringing total funding to $120M in 12 months. The Canadian fintech reports rapid growth in payment volume, revenue, and credit issuance. Rob Khazzam | Ruslan Nikolaev | Bhavin Shah | #funding | #canada | #fintech

Float secures CAD$70m in Series B to transform Canadian business finance The investment round was led by Growth Equity at Goldman Sachs Alternatives, with participation from OMERS Ventures, FJ Labs, Teralys, and existing investor Garage Capital. This latest financing brings the company’s total funds raised in the past 12 months to CAD$120m, including a CAD$50m credit facility secured in February 2024. Read the story here: https://lnkd.in/gUQwQK6B #FinTech #Canada #PayTech Manu Guerlesquin Sarah Klaassen Dana Krook

Jiko Secures $29 Million in Series C Funding, Strengthens Its Board and Advisory Committee Read more: https://lnkd.in/dcrTpE9b #funding #funsraising #Jiko #SeriesC #FintechFunding #AdvisoryCommittee #BoardExpansion #finance #fintech #FinancialIT

Bridgepoint to Reinvest in Kyriba, Alongside New Minority Investor, General Atlantic  Read more:  https://lnkd.in/dJUZ3YR4 #Bridgepoint #Kyriba #GeneralAtlantic #FintechInvestment #TreasuryManagement #CorporateFinance #finance #fintech #FinancialIT

One of the most transformative changes in fund financing has been the shift from traditional capital calls to a more dynamic approach: subscription line financing. This shift underscores a broader trend toward innovative financial products like Net Asset Value (NAV) financing to enhance operational efficiency and liquidity management. In this post, Helle Pilia explores the complexities of subscription line and NAV financing, including how funds can effectively administer them. https://lnkd.in/eRJaaHQN #oneiqeq #financing #fundfinancing

Fund financing is a vital tool for managers of "capital commitment" / "drawdown" based funds - this is a really interesting piece from my colleague Helle Pilia on the topic!

Leading private equity firm Carlyle & Goldman Sachs to invest $1.1 billion in financial services provider Apex Group via Holdco PIK Notes (Payment-in-Kind).   In 2020, Carlyle & Goldman Sachs had invested in Apex Group Preferred Equity Note, and investing in a follow-on issue in 2021.  Read - https://lnkd.in/gshu6K6X follow Caproasia | Driving the future of Asia Leading private equity firm Carlyle ($425 billion AUM) & Goldman Sachs ($450 billion Alternatives AUM) have committed to invest $1.1 billion in financial services provider Apex Group via Holdco PIK Notes (Payment-in-Kind).   In 2020, Carlyle & Goldman Sachs had invested in Apex Group Preferred Equity Note, and investing in a follow-on issue in 2021.  Announcement (24/6/24): “Apex Group Ltd. (“Apex”) has announced global investment firm Carlyle’s Global Credit business (“Carlyle”) and Goldman Sachs Private Credit (“Goldman Sachs”), have jointly committed in excess of $1.1bn into the global financial services provider. This commitment endorses Apex’s sustainable growth strategy, following the successful integration of a number of previous acquisitions, continued strong organic growth and technological innovations.  Apex’s assets on platform now stand at $3.1 trillion serviced across custody, administration, depositary and under management by over 13,000 employees worldwide.  Carlyle and Goldman Sachs have committed to Holdco PIK Notes of Apex to continue to support the company’s growth plans that will focus on optimising the current platform, strategy and combined investment in technology innovation.  This builds on the firms’ continued relationship with Apex, following an initial Preferred Equity Note in 2020 and a follow-on issuance in 2021. Upon completion of the transaction Apex will have enhanced its financial profile, both in terms of leverage and liquidity.  Financial terms were not disclosed.” Peter Hughes, Founder and CEO at Apex Group Ltd : “We are extremely pleased to further expand our relationship with Carlye and Goldman Sachs. The new issuance validates Apex’s strong business model but will also enable product and geographic expansion as well as further technology investment.”

Leading private equity firm Carlyle & Goldman Sachs to invest $1.1 billion in financial services provider Apex Group via Holdco PIK Notes (Payment-in-Kind).   In 2020, Carlyle & Goldman Sachs had invested in Apex Group Preferred Equity Note, and investing in a follow-on issue in 2021.  Read - https://lnkd.in/gnx7uTdp follow Caproasia | Driving the future of Asia Leading private equity firm Carlyle ($425 billion AUM) & Goldman Sachs ($450 billion Alternatives AUM) have committed to invest $1.1 billion in financial services provider Apex Group via Holdco PIK Notes (Payment-in-Kind).   In 2020, Carlyle & Goldman Sachs had invested in Apex Group Preferred Equity Note, and investing in a follow-on issue in 2021.  Announcement (24/6/24): “Apex Group Ltd. (“Apex”) has announced global investment firm Carlyle’s Global Credit business (“Carlyle”) and Goldman Sachs Private Credit (“Goldman Sachs”), have jointly committed in excess of $1.1bn into the global financial services provider. This commitment endorses Apex’s sustainable growth strategy, following the successful integration of a number of previous acquisitions, continued strong organic growth and technological innovations.  Apex’s assets on platform now stand at $3.1 trillion serviced across custody, administration, depositary and under management by over 13,000 employees worldwide.  Carlyle and Goldman Sachs have committed to Holdco PIK Notes of Apex to continue to support the company’s growth plans that will focus on optimising the current platform, strategy and combined investment in technology innovation.  This builds on the firms’ continued relationship with Apex, following an initial Preferred Equity Note in 2020 and a follow-on issuance in 2021. Upon completion of the transaction Apex will have enhanced its financial profile, both in terms of leverage and liquidity.  Financial terms were not disclosed.” Peter Hughes, Founder and CEO at Apex Group Ltd : “We are extremely pleased to further expand our relationship with Carlye and Goldman Sachs. The new issuance validates Apex’s strong business model but will also enable product and geographic expansion as well as further technology investment.”

My colleagues Ed Saunders, Ravi Chopra and Rob Emerson have penned a chapter in this year's edition of GLI’s Fund Finance 2025 “pink book”. The chapter discusses the key themes around preferred equity to help situate it in the fund financing toolkit, whether in conjunction with or as an alternative to NAV financing.   https://lnkd.in/egCT7PHF

Float Financial Announces $70 Million Investment Round Led by Growth Equity at Goldman Sachs Alternatives to Build Canada’s Most Complete Business Finance Solution “Our financial system needs to match the speed and ambition of Canadian businesses if we want to thrive locally and compete globally. Float’s mission is simple: cut through the red tape and give businesses the financial tools they need to move faster. To access more opportunities. And to do it all easily, with the click of a button,” said Rob Khazzam, CEO of Float. “Today, 4,000 businesses use Float to manage team spend, earn high-interest on cash reserves and save days of manual reconciliation. This investment will fuel our mission to support thousands more with the financial solutions they need to lead Canada into the future.” https://lnkd.in/e3Cyt9di Dana Krook Ruslan Nikolaev Andrew Dale Bhavin Shah Griffin Keglevich Sarah Klaassen Joshua Ruff Clare Greenan #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews