Apollo Global Management, Inc. | July 02, 2021
Apollo Global Management, Inc. and Motive Partners, a specialty private equity firm concentrating on financial technology investments, announced a strategic and financial cooperation today to take advantage of considerable technological transformation and innovation in the financial services industry. Client investment prospects will be improved as a result of the agreement, and both platforms' growth will be accelerated. The transaction's conditions were not revealed.
Apollo and its affiliates will become limited partners in Motive managed vehicles as part of the strategic agreement, which would see Apollo purchase up to a 24.9 percent minority ownership in Motive's management firm. Motive's capacity to execute on its differentiated investment approach within financial technology has improved as a result of these commitments, with expanded ability to trade on its proprietary pipeline.
Motive will serve as a strategic innovation partner to Apollo, its affiliates, and the funds' portfolio companies, allowing Apollo to expedite innovation and growth. Motive Create, the company's in-house innovation team, will collaborate with Apollo on a number of fronts, including platform technology innovation, new product creation and distribution, and investment origination.
"There is a technology-driven shift going in financial services, and Apollo is well positioned to occupy the single best position in this changing ecosystem," said Marc Rowan, Chief Executive Officer of Apollo. Our efforts to expand and improve technology capabilities across our entire platform—broadening distribution across new and existing channels and developing new product offerings for our asset management and retirement services businesses—will be significantly aided by Rob and the Motive teams' exceptional financial technology expertise and network. Apollo's growth strategy is around innovation, and this partnership exemplifies our desire to remain at the forefront of technological advancements.
"Since our beginning, we have prided ourselves on having an unprecedented degree of skill, knowledge, and access in the financial technology ecosystem," said Rob Heyvaert, Founder & Managing Partner of Motive Partners. As financial technology comes to cross with every industry on the planet, now is an excellent time to form a collaboration with a group that shares our goals and can help us seize the tremendous market potential that lies ahead. It's an honour to work with Marc, Jim, Scott, Gary, and the rest of the Apollo crew, for whom I have a tremendous deal of admiration. Motive Create's progress demonstrates our combined understanding and dedication to creating value in financial technology through the use of operating and inventing expertise.”
The partnership between Apollo and Motive Create will take advantage of the group's financial services innovation expertise and technology capabilities to help the companies capitalise on what Motive Partners estimates to be a nearly $10 trillion (source: Motive Partners) financial technology market opportunity over the next decade.
Both companies anticipate that the financial services business will continue to change dramatically over the next decade, with a focus on purpose, inclusivity, digital efficiency, and connection. The conditions for a fundamental rethink of how and where key functions are performed have been established by technological and institutional transformations over the preceding decade, which have been supercharged during the past year. Other industries are progressively incorporating financial technology and services into their product offerings, resulting in a boom in opportunities for financial technology players and investors, as well as the emergence of a new breed of platform juggernauts. Apollo and Motive's strategic relationship is positioned to speed the integration of these technologies, allowing them to jointly address this large market potential while also enhancing their individual portfolios.
There will be no modifications in the management, strategy, investing process, or day-to-day operations of Motive or any Motive administered vehicles, including Motive Capital Corp., aside from the essential components of the strategic alliance.
Apollo is a global alternative asset management with a rapid rate of expansion. With a focus on three business strategies: yield, hybrid, and opportunistic, we attempt to provide our customers with excess return at every point along the risk-reward spectrum, from investment grade to private equity. We fulfil our clients' retirement income and financial return needs, as well as provide innovative capital solutions to businesses, through our investing activity across our fully integrated platform. Our patient, innovative, and intelligent approach to investing links our clients, the businesses in which we invest, our employees, and the communities in which we have an effect to expand opportunity and produce great outcomes. Apollo had approximately $461 billion of assets under management.
About Motive Partners
Motive Partners is a specialist private equity firm based in New York City and London that focuses on growth equity and buyout investments in software and information services companies based in North America and Europe, with five primary subsectors: Banking & Payments, Capital Markets, Data & Analytics, Investment Management, and Insurance. Motive Partners creates long-term value in financial technology companies by bringing differentiated experience, connectivity, and capabilities.
Jeeves | November 29, 2021
Mexico is one of the fastest-growing economies in the world, yet its local businesses still struggle to access credit without exorbitant fees and tedious paperwork. Mastercard, the world's leading payments company, and Jeeves, the preferred financial partner for Mexican businesses, have partnered together to solve this issue by launching the first physical card that allows companies to pay in any local currency from all countries Mastercard currently operates.
The startup ecosystem in Mexico and all of Latin America is thriving. As founders ourselves, we understand their needs, which is why it is important that we offer this card to them now. In addition to no fees and up to 4% cashback, our cards provide the flexibility and security LATAM startups are hungry for."
Dileep Thazhmon, CEO and founder of Jeeves.
Jeeves is the first and only expense management and business banking company in Mexico that is a fully-approved Mastercard Principal Member with both physical and virtual cards. Jeeves cardholders can benefit from no fees, unlimited virtual cards, and up to 4% cashback. Since its launch in January 2021, the company has successfully onboarded over 700 businesses in Mexico, including Runa, Moons, Bitso, Kavak, Jüsto, etc.
Kavak, one of the fastest-growing Mexican startups, has been using Jeeves card during the last year. Carlos García Ottati highlights its benefits: "Jeeves makes everything faster. Kavak is growing exponentially. We need a partner that understands and fulfills our needs. Thanks to Jeeves card and expense platform we can operate cross border seamlessly."
"Thanks to Jeeves, we can grow our business without worrying about the logistics of expenses and payments. Each of our team members has access to their own cards and is tailored to their specific needs. When we travel - Jeeves makes it easy. You can pay in any currency and link it to the bank account you prefer. Our finance team loves it. No other company lets you go global so easily and quickly," says Alexander Clapp, Moons COO, and co-founder.
"In recent years, we have seen an exponential growth of the fintech ecosystem in the market. We are very excited about this alliance with Jeeves. Through these collaborations, we can contribute to a fast digital transformation that provides startups with the products that directly align with their needs and facilitate access to financial services," assured Pablo Cuarón, Director of New Payments Flows at Mastercard México.
Unlike traditional financial service providers, Jeeves approves credit cards in record time and with no personal guarantees. This allows companies to operate immediately with the support, strength, and network of Mastercard.
The partnership allows Jeeves cardholders to use their cards in all countries where Mastercard currently operates, allowing companies to pay in local currency including Mexican Pesos, Colombian Pesos, USD, and GBP, with 30 days of credit.
The partnership comes off the heels of two successful funding rounds backed by some of the most prestigious investors in Silicon Valley, including Andreessen Horowitz (a16z), Y Combinator, and CRV, raising a total of over $188 million.
Jeeves is an all-in-one expense management platform for startups in global markets including Mexico, Colombia, Chile, Canada, UK and Europe. Cash, corporate cards with up to 4% cash back, and cross border payments all run on the Jeeves proprietary infrastructure which allows companies to spin up their finance function within minutes. Jeeves can handle multiple currencies for payback. More than 1000 global companies trust Jeeves with their financial payment stack. Jeeves has raised $188 Million from Andreessen Horowitz, Y Combinator, CRV, Tencent and Silicon Valley Bank to fuel its international expansion.
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.
Total Expert | August 02, 2021
Total Expert, the CRM and customer engagement solution designed specifically for the financial services industry, has introduced an enlarged platform with powerful connectors and unique product enhancements. The additional capabilities and data interfaces assist financial institutions in humanising sales and marketing outreach, building long-term loyalty, and strengthening client relationships at scale—providing the modern approach institutions require to compete today.
This new feature arrives at a vital juncture in the business, as banks and lenders fight for consumers ’ attention by providing great experiences. The stakes are high: 78 percent of consumers want consistent messages regardless of where they connect, so every customer touchpoint has the potential to improve or endanger a relationship.
“Today's financial institutions have an enormous quantity of important consumer data at their disposal, but they often lack the tools to act on it,” said Matt Tippets, chief product officer at Total Expert. “Our most recent Total Expert enhancements enable banks and lenders to quickly translate their data into meaningful customer connections by transforming consumer insights into action and impact.”
The most recent functional enhancements expand on Total Expert's ability to expedite communications across the full customer lifecycle, including:
Total Expert for Consumer Direct, the only all-in-one sales and marketing platform built on a single data model for direct lending, accelerates time to market while supporting authentic customer communications, lead routing, and lead management.
Campaign execution time is reduced: Improved Email Builder for mass development and distribution of tailored and compliant consumer emails.
Customer Speech: TrueIntent collects the customer's voice and uses zero-party data to distribute humanised communications.
Targeted outreach: New Salesforce and RatePlug technology integrations centralise and configure contact and lead data to automate personalised messaging to the appropriate people at the right time.
This release is the latest in a series of big breakthroughs announced by Total Expert this year—platform extensions that are driving significant growth and improving Total Expert's status as a market leader. Total Expert has received multiple awards in the last year, including being named the No. 1 CRM platform by STRATMOR Group and a HousingWire Tech100 winner for four years in a row.
“Banks and lenders that adopt Total Expert recognise the need to update and give value to today's financial consumer. They understand that greater connections and more meaningful conversations across the customer journey build relationships, foster financial literacy and wellbeing, and keep consumers returning,” stated Joe Welu, founder and CEO of Total Expert. “Total Expert is on a mission to innovate on new technology that assists our customers in putting the human at the centre of it all—leveraging data, automation, and industry best practises to give a superior experience and, ultimately, create a customer for life.”
About Total Expert
Total Expert is a renowned fintech software business that provides unique CRM and customer interaction solutions for modern financial institutions. The Total Experience Platform integrates data, marketing, sales, and compliance tools to deliver a consistent experience throughout the client lifecycle. Total Expert transforms consumer insights into actions that boost loyalty and promote growth for banks, lenders, credit unions, and other financial services companies.