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Motive Partners Acquires Control Stake In Splitit

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ATLANTA and NEW YORK, Dec. 12, 2023 /PRNewswire/ — Splitit Payments Limited (“Splitit” or the “Company”) (ASX:SPT), the white-label, fully-embedded payments technology platform allowing customers to pay via card-attached installments using their existing card at checkout without increasing their total credit exposure, announced today that it has voluntarily delisted from ASX upon its closing of the first US$25 million of a US$50 million growth commitment from funds advised by Motive Partners (together with its affiliates, “Motive”). These funds will be used to accelerate Splitit’s growth and support the execution of its strategic plan.

Motive’s US$50 million commitment is comprised of two US$25 million tranches in exchange for the issuance of new preference shares. The first US$25 million tranche closed yesterday after Splitit received overwhelming shareholder approval on 13th November 2023 for (1) the voluntary delisting of the Company from ASX, and (2) the redomicile of the Company from Israel to the Cayman Islands by means of a share-exchange accomplished through a merger. The second US$25 million tranche will be invested upon Splitit achieving certain 2023 full-year financial performance milestones (which Splitit is currently exceeding)1 and the satisfaction of certain other closing conditions. For additional information, please refer to Splitit’s ASX Announcement dated 16th August 2023.

Dawn Robertson, Chair of Splitit, commented, “We are delighted to close Motive’s first round of growth investment. As a world-class private equity sponsor with significant capital, extensive payments expertise, value-additive capabilities, and deep industry relationships, Motive is the ideal partner to support Splitit in creating long-term value.”

Nandan Sheth, Managing Director & CEO of Splitit, added, “Attracting a strategic investor of this caliber is a testament to the quality of our team and our unique, innovative offering. Motive’s investment significantly strengthens our balance sheet and brings additional global payments expertise, allowing the team to accelerate our white-label product strategy, product innovation, and our Tier One global distribution partnerships.

Jeff Yabuki, Chairman and Founding Partner at Motive Partners, commented, “We are thrilled to become a strategic investor in Splitit. The Company and its management have created a differentiated approach to commerce innovation across an impressive set of strategic partnerships which we believe will further unlock an attractive market. We look forward to partnering with Splitit’s talented team to take the Company to new heights.”

Blythe Masters, Founding Partner at Motive Partners, added, “We have been impressed by Splitit’s evolution into the premier card-attached installments platform and are excited for the opportunity to apply our expertise and resources to further enhance Splitit’s global growth trajectory.”

About Splitit
Splitit powers the next generation of commerce innovation through its merchant-branded Installments-as-a-Service platform. Splitit is solving the challenges businesses face with legacy Buy Now, Pay Later (BNPL) providers while unlocking commerce innovation at the point of sale for card networks, issuers, and acquirers all through a single network API. Splitit’s Installments-as-a-Service platform mitigates issues with legacy BNPL like the declining conversion funnel, clutter at the checkout, and a lack of control of the merchant’s customer experience while putting the power back in the hands of merchants to nurture and retain customers, drive conversion, and increase average order value. Splitit’s white-label solution is the easiest installment option for merchants to adopt, integrate, and operate while delivering an uncluttered, simplified experience embedded into their existing purchase flow. Headquartered in Atlanta, Splitit has an R&D center in Israel and offices in London and Australia. For more information, please visit Splitit.com.

About Motive Partners 
Motive Partners is a specialist private equity firm that combines Investors, Operators, and Innovators (the “IOI model”) to pursue growth equity and buyout investments in technology-enabled financial and business services companies. Motive has $4.8 billion in assets under management and targets five primary subsectors: Banking & Payments, Capital Markets, Data & Analytics, Investment Management, and Insurance. Through its in-house combination of Investors, Operators, and Innovators, Motive brings differentiated expertise, connectivity, and capabilities to its investments to create long-term value. Today, Motive employs over 230 professionals and maintains offices in New York City, London, and Berlin.

For more information, please visit motivepartners.com.

For more information please contact:

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SPLITIT

Danielle Poggi / Michael McMullan
Berns Communications Group
[email protected] / [email protected]

MOTIVE PARTNERS

Sam Tidswell-Norrish
Managing Director, Investor Relations
+44 78 5591 0178 [email protected]

______________________________________________

1 Indicative based on the [1.54] USD to AUD exchange rate on [11] December 2023. All other amounts in this announcement quoted in USD.
Targets are currently exceeded measured on a year-to-date basis to 30 September 2023.

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J.F. Lehman & Company Announces Promotions and Team Additions

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NEW YORK, Jan. 15, 2025 /PRNewswire/ — J.F. Lehman & Company (“JFLCO”), a leading middle-market private investment firm focused exclusively on the aerospace, defense, maritime, government and environmental sectors, is pleased to announce several promotions and team additions.

Promotions include Karina Perelmuter to Managing Director, Megan E. Kanefsky to Director, Bridget A. Harding to Vice President and Bailee D. Glass to Associate.  “Our latest promotions highlight the exceptional contributions by these individuals as well as our established track record cultivating career progression,” said Louis N. Mintz, Partner. “Their dedication and impact across our own organization and our portfolio companies illustrates our commitment to excellence and fostering sustained success.” 

The firm also recently welcomed several new investment professionals including Sandra Wong, Jack R. Chandler, Yosef W. Medhin, Jack R. Smith and Emily O. Strambi.  JFLCO’s functional capabilities were augmented with the addition of Isabel R. Grabel and Jessica S. Godt in Investor Relations, Miguel Zhindon in Technology and Grace Xu in Finance & Accounting.

“We continue to attract outstanding new talent following the successful closing of our latest buyout fund,” said Glenn M. Shor, Partner.  “These new team members further enhance the firm’s capacity and capabilities.”

Recent Promotions

Karina Perelmuter, Managing Director, Marketing & Investor Relations.  Prior to joining the firm in 2019, Ms. Perelmuter served as a Vice President in Lazard’s Private Capital Advisory practice, a member of the Investor Relations team at Tiger Global and a Fund Accountant at Mount Kellett.  She began her career in Assurance at Ernst & Young.  Ms. Perelmuter graduated magna cum laude from American University, where she earned a B.S. in finance and accounting.

Megan E. Kanefsky, Director, Human Capital.  Prior to joining the firm in 2021, Ms. Kanefsky spent 15 years in the Human Resources Group at Blackstone, where she focused on recruiting, benefits administration, performance evaluation and organizational development.  Ms. Kanefsky earned a B.A. in psychology from the University of Maryland and an M.A. in industrial and organizational psychology from Baruch College.

Bridget A. Harding, Vice President.  Prior to joining the firm in 2020, Ms. Harding began her career as an Investment Banking Analyst in Goldman Sachs’ Global Industrials Group.  Ms. Harding graduated summa cum laude from Lehigh University, where she earned a B.S. in accounting and finance.

Bailee D. Glass, Associate.  Prior to joining the firm in 2022, Ms. Glass began her career as an Alternative Investments Research Analyst in BlackRock’s hedge fund solutions group.  Ms. Glass graduated from the University of Chicago, where she earned a B.A. in economics.

Investment Team Additions

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Sandra Wong, Vice President, Credit.  Prior to joining the firm, Ms. Wong served as Vice President on the U.S. Investment Team at Strategic Value Partners, where she focused on distressed and special situations opportunities.  She began her career as an Investment Banking Analyst at Credit Suisse, where she later transitioned to the Private Equity Group.  Ms. Wong earned a B.A. in business economics as well as a minor in accounting from UCLA and an M.B.A from the Wharton School at the University of Pennsylvania.

Jack R. Chandler, Associate.  Prior to joining the firm, Mr. Chandler began his career as an Investment Banking Analyst at Grace Matthews.  He graduated magna cum laude from the University of Notre Dame, where he earned a B.B.A. in finance and applied computational mathematics and statistics.

Yosef W. Medhin, Associate.  Prior to joining the firm, Mr. Medhin was an Investment Banking Analyst in Citi’s Industrials Group and began his career as an Investment Banking Analyst at Deutsche Bank. He graduated from Washington and Lee University, where he earned a B.S. in business administration.

Jack R. Smith, Associate.  Prior to joining the firm, Mr. Smith began his career at Morgan Stanley in the Private Equity Solutions group. He graduated summa cum laude from Drexel University, where he earned a B.S. in finance.

Emily O. Strambi, Analyst.  Prior to joining the firm, Ms. Strambi began her career as an Equity Trading Analyst at the Royal Bank of Canada, where she covered the healthcare and consumer sectors.  She graduated magna cum laude from the Wharton School at the University of Pennsylvania, where she earned a B.S. in economics with concentrations in finance and business analytics as well as a minor in legal studies and history.

Other Team Additions

Isabel R. Grabel, Marketing & Investor Relations. Prior to joining the firm as a Senior Associate, Ms. Grabel was a Senior Associate at Harvest Partners, where she focused on private equity investments in industrials, healthcare, business services and consumer products.  She began her career as an Investment Banking Analyst at Jefferies.  Ms. Grabel graduated from the Ross School of Business at the University of Michigan, where she earned a B.B.A. with a concentration in finance and financial management services.

Jessica S. Godt, Marketing & Investor Relations.  Ms. Godt joined JFLCO in 2024 to support and consult on the firm’s marketing and fundraising efforts across private equity and credit strategies.  Previously, Ms. Godt served as Vice President of Investor Relations at Warwick Investment Group and began her career in Lazard’s Private Capital Advisory practice.  She earned a B.S. in commerce with concentrations in finance and management and a minor in business analytics from the University of Virginia.

Miguel Zhindon, Enterprise Technology.  Prior to joining the firm as a Vice President, Mr. Zhindon served as a Senior Technology Consultant at iCorps Technologies, tailoring IT strategies, training and technical support for JFLCO and other clients.  Previously, Mr. Zhindon held various roles in network administration and telecommunications.  He began his career in the United States Marine Corps and graduated from Pace University, where he earned an M.S. in information systems and assurance.

Grace Xu, Finance & Accounting.  Prior to joining the firm as an Assistant Controller, Ms. Xu served as a Business Unit Controller at Millennium Management.  Previously, Ms. Xu worked as a Manager at PricewaterhouseCoopers in the financial services group. Ms. Xu earned a B.S. in accounting from Pennsylvania State University. Ms. Xu is a Certified Public Accountant.

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About J.F. Lehman & Company, Inc.

Founded in 1992, J.F. Lehman & Company focuses exclusively on investing in the aerospace, defense, maritime, government and environmental industries. The firm has offices in New York and Washington, D.C.
http://www.jflpartners.com

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Fixed income investor meetings – update

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FORNEBU, Norway, Jan. 15, 2025 /PRNewswire/ — Reference is made to the announcement by Aker Horizons ASA (“Aker Horizons” or the “Company”) on 9 January 2025 regarding fixed income investor meetings and a potential new bond issue. The Company has met a broad range of investors and experienced strong interest from the market.

The Company has received valuable feedback, which it will evaluate as part of the ongoing process to optimize the Company’s overall capital structure. Accordingly, the Company will not pursue a potential bond offering at this time. 

Aker Horizons has a robust liquidity position and benefits from strong support from its main shareholder and creditor Aker ASA. The Company is committed to its strategy of developing green energy and green industry. 

For further information, please contact:
Stian Andreassen, Investor Relations, Tel: +47 41 64 31 07
[email protected]

Mats Ektvedt, Media, Tel: +47 41 42 33 28
[email protected]

About Aker Horizons:

Aker Horizons develops green energy and green industry to accelerate the transition to Net Zero. The company is active in renewable energy, carbon capture and sustainable industrial assets. As part of the Aker group, Aker Horizons applies industrial, technological and capital markets expertise with a planet-positive purpose to drive decarbonization globally. Aker Horizons is listed on the Oslo Stock Exchange and headquartered in Fornebu, Norway. Across its portfolio, the company is present on five continents. www.akerhorizons.com

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

IMPORTANT INFORMATION

This communication is not an offer to sell or purchase, or the solicitation of an offer to sell or purchase, any securities, or the solicitation of a proxy, in any jurisdiction in which, or to any person to whom, such offer, sale or solicitation is not authorized or would be unlawful.

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This communication contains forward-looking statements. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and other statements, which are not statements of historical facts. Forward-looking statements are generally identified by the words “expects”, “anticipates”, “believes”, “intends”, “estimates”, “plans”, “will be” and similar expressions. You are cautioned that forward-looking information and statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of the Company, and that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward -looking information and statements contained herein. The forward-looking statements in this communication speak only as of the date hereof and, other than as may be required by applicable law, the Company does not undertake any obligation to update or revise any forward-looking information or statements.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/aker-horizons/r/fixed-income-investor-meetings—update,c4091958

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Statement of Ad Hoc Lebanon Bondholder Group

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LONDON and NEW YORK, Jan. 15, 2025 /PRNewswire/ — In March 2020, several of the largest institutional holders of sovereign bonds issued by Lebanon formed a group (the “Ad Hoc Group”) in response to the deteriorating financial and economic situation in the country and the government’s decision to default on its international bonds.  The Ad Hoc Group’s stated objective from the outset has been to find a sustainable and equitable solution to Lebanon’s severe debt challenges. The Ad Hoc Group is supported by White & Case LLP as legal advisor. 

The intervening years have witnessed a further decline of Lebanon’s political, economic and security situation, which has prevented any meaningful engagement with the Lebanese authorities.  Despite the lack of progress to date, the Ad Hoc Group continues to provide a forum for coordination and communication among international bondholders, and remains prepared to engage constructively with the Lebanese authorities and other domestic and international stakeholders.

In this regard, the Ad Hoc Group is encouraged by the recent election of Joseph Aoun as President of Lebanon and nomination of Nawaf Salam as prime minister, and looks forward to the formation of a new government that will have the mandate to address the many challenges facing the country. 

The Ad Hoc Group also takes note of last week’s statement of the Council of Ministers of Lebanon relating to the proposed suspension of Eurobond prescription periods until 9 March 2028, and confirms its willingness to discuss the implementation of the proposed suspension with the authorities and, at the appropriate time, to engage more broadly to find a resolution to the longstanding debt default.

Holders of Lebanon’s international bonds who wish to learn more about the Ad Hoc Group and its objectives, or discuss recent developments, may contact White & Case LLP by emailing [email protected].

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