IBanFirst is a New York City-based fintech startup that has just raised $200 million in a Series 2B round from Marlin Equity Partners. This is a big deal for the company, and we will be following their progress closely. We will be reporting on this deal and what it means for the rest of the sector. Investing in startups isn’t easy, so we’ll take a closer look at the company’s plan to raise the funds.
iBanFirst’s deal with Marlin
With its new deal with Marlin, iBanFirst will receive access to EUR50 million in debt, which will allow the company to make acquisitions and fund growth. The company is cash flow positive, so it should be able to manage debt payments. The company is looking to use the money to consolidate the European market. The deal with Marlin also recognizes that the financial markets are changing and that entrepreneurs need to adjust their mindsets and consider more options when seeking financing.
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iBanFirst’s deal with Marlin Equity Partners
With a new 200 million Series B round of financing, iBanFirst has attracted a new investor in the form of Marlin Equity Partners. This venture capital firm is based in California and has more than EUR7 billion in assets under management. It plans to open an office in Paris in September 2020. The firm is a hybrid of venture capital and private equity. The funding comes just months after iBanFirst’s previous fundraising.
Marlin Equity Partners has made a significant investment in iBanFirst, a cloud-based financial services provider that enables B2B payments and FX transactions. The company’s solutions help businesses mitigate FX risks, streamline supply chains, and accelerate their operations. Thousands of companies worldwide use iBanFirst’s solution to make cross-border payments easier worldkingnews.
The investment firm has hubs in Los Angeles and London. It has invested in European companies since 2006. The firm has more than $3 billion in capital under management. It will focus on sectors related to business services, health care, consumer, and manufacturing.
In addition to iBanFirst, Marlin Equity Partners has acquired two other tech companies. People-Analytix AG, based in Switzerland, has built an AI-based employee skills management platform with over 20,000 unique skills. It has also acquired two companies that focus on inventory management. Its latest acquisition, SkuVault, will merge with Linnworks, a U.S.-based provider of high-performance trading solutions.
In the same vein, Marlin Equity Partners recently completed a significant majority investment in Altvia Holdings Inc. The company’s data management and investor communications software suite empowers private capital markets participants to better manage mission-critical data, enhance communications, and develop industry relationships. The new funding will allow Altvia to continue to grow its leadership position and accelerate product innovation.
Marlin has been active in Europe since 2006 and has opened an office in London in 2012. Its investment strategy is to invest in companies that are sustainable and high-potential. This new fund will target European middle-market companies.
iBanFirst’s deal with Marlin Equity Partners
iBanFirst was looking for a larger VC round when it came to its funding round, and Marlin offered a more tailored set of financing tools than classic VC funds. The startup created a new corporation, which Marlin owns 25% of. Dusoulier wouldn’t break down how much of the new money went to buy out the previous investors. This process made it easier for Marlin to come in to the deal.
Marlin has invested EUR50 million in iBanFirst, which will use the money to purchase additional companies. The company is cash-flow positive, and should be able to manage its debt repayments within reasonable limits. Marlin’s approach recognizes the shifting financial markets, and will give iBanFirst access to long-term growth opportunities.
Marlin has a global presence, and its Los Angeles and London hubs allow it to invest in a variety of industries. The firm focuses on investments in technology, health care, business services, and consumer and manufacturing sectors.
Marlin has also invested in iBanFirst, which makes international payments easier. The company has a transaction volume of more than EUR2 billion a month, has 250 employees, and serves 4,000 customers across Europe. Its revenue has doubled every year since it was founded.
Marlin is a leading global investment firm. It has been active in Europe since 2006, and its London office opened in 2012. The investment strategy of Marlin includes investing in high-potential, sustainable companies with great growth potential.
iBanFirst’s IPO
iBanFirst is a foreign exchange service based in the United Kingdom. It relies on real-time currency exchange rates and claims to have over 4000 clients. It raised 21 million euros to expand its business. iBanFirst competes with traditional banks that charge a fee for using their service.
iBanFirst has a history of rapidly reaching profitable status. Its clientele consists of ETIs and PMEs. It also enables multi-devise transactions. Currently active in France, Belgium, and the Netherlands, iBanFirst has doubled its volume of transactions in just over a year. It has also expanded its product with the development of new services. It has plans to become one of the largest financial institutions in Europe.
iBanFirst’s recent funding round came from global private equity firm Marlin, replacing a number of early backers and business angels. Marlin’s investment strengthened iBanFirst’s commitment to its existing partners. The founder and CEO, Mark Elser, will remain as second largest shareholder.
iBanFirst’s IPO with Marlin Equity Partners
In a news release today, iBanFirst SA announced that Marlin Equity Partners has invested in the company. The firm will become iBanFirst’s largest shareholder, replacing its existing business angels and other early backers. The founder and CEO will become the company’s second largest shareholder. The company says the investment marks a shift in its funding strategy. The company has raised EUR46 million in three rounds of funding.
iBanFirst’s cap table is a mess after three rounds of funding, including a series of complex layers of preferred shares. This complicates discussions around valuation and distribution funds. Additionally, iBanFirst wants to use the proceeds of the new financing to go on an acquisition spree in the European market. But raising so much money from VCs tends to dilute everybody’s shares. In addition, VCs don’t like to see their investments go into companies that take on excessive debt.
Conclusion
Its mission is to simplify the day-to-day operations of entrepreneurs and help them grow their businesses. The company offers these services at a lower cost than traditional banks. Moreover, its APIs enable the companies to access a variety of financial services. To learn more, visit iBanfirst.com or listen to the company’s podcast.
