BITCOIN AND CRYPTO

TradeStation® Crypto Launches in Puerto Rico

TradeStation Crypto | March 26, 2022

Trade_Station_Crypto
TradeStation, an award-winning*, self-clearing online brokerage, announced today that residents of Puerto Rico are now eligible to apply for a TradeStation Crypto, Inc. account to trade cryptocurrencies. Crypto trading is available in Puerto Rico and much of the U.S. with aggregated liquidity, intelligent order routing, and competitive pricing. TradeStation Securities, Inc. is also licensed and permitted to do business in Puerto Rico, giving TradeStation Securities customers access to trade stocks, ETFs, options, and futures.

We are excited to be expanding into Puerto Rico as adoption of digital assets continues to grow. We believe that Puerto Rico has a strong reputation supporting crypto, and we're looking forward to being part of the momentum surrounding their crypto community, We feel TradeStation offers clients the best of both worlds, a trusted brand that's been serving traders for over 30-years combined with innovative products and technology to access the crypto market."

James Putra, Vice President, Product Strategy at TradeStation Crypto.

TradeStation Crypto aggregates multiple pools of liquidity in a consolidated market data feed combined with an intelligent order-routing system designed to give its customers better visibility and trade execution, which is a differentiated model from some crypto exchanges.

New crypto customers can also benefit from TradeStation's current offer bonus, awarding customers $10 in a supported cryptocurrency. Eligible customers can qualify for a higher tier-based reward if they deposit at least $5,000 of assets within 90 days from account approval.**

In addition, customers can own cryptocurrency as an alternative investment in a TradeStation Individual Retirement Account (IRA). TradeStation's self-directed IRA provides flexibility for individuals and investment advisers who aim to achieve greater diversification with cryptocurrency.

About TradeStation Group, Inc.
TradeStation has, for decades, advanced fintech through its support of self-directed traders and investors in their journeys to claim their financial edge. TradeStation provides award-winning* trading and analysis platforms and self-clearing online brokerage services for stocks, ETFs, equity and index options, commodity and financial futures, futures options, and cryptocurrencies. These trading platforms are accessible on desktop, Web, and mobile, as well as via API technologies which seamlessly provide access to TradeStation's brokerage environment through third-party platforms. TradeStation's offerings also include deep and growing learning content designed to build confidence among those new to investing and hone the skills of seasoned traders. 

TradeStation Securities, Inc. (Member NYSE, FINRA, SIPC, NSCC, DTC, OCC, NFA & CME offers self-clearing equities, options, futures and futures options brokerage services as a licensed securities broker-dealer and futures commission merchant (FCM) and is a member of major equities and futures exchanges in the United States. TRADESTATION SECURITIES, INC. IS A MEMBER OF NFA AND IS SUBJECT TO NFA'S REGULATORY OVERSIGHT AND EXAMINATIONS. HOWEVER, YOU SHOULD BE AWARE THAT THE NFA DOES NOT HAVE REGULATORY OVERSIGHT AUTHORITY OVER UNDERLYING OR SPOT VIRTUAL CURRENCY PRODUCTS OR TRANSACTIONS OR VIRTUAL CURRENCY EXCHANGES, CUSTODIANS, OR MARKETS. TradeStation Crypto, Inc. offers self-clearing cryptocurrency brokerage services under federal and state money services business, money-transmitter, and similar registrations and licenses. TradeStation Crypto, Inc. is not subject to NFA's regulatory oversight and examinations.

Spotlight

Acting as a gateway to cryptocurrency markets for Estonian blockchain companies and a go-to place for launching new ones, Mothership will help prospective startups build a legal framework for digital assets and execute successful funding campaigns.


Other News
PAYMENTS

eFactor Network and PrimeRevenue Expanding Access to Finance for Agribusiness Companies in Latin America

PrimeRevenue | June 28, 2022

FIRA (Trust Funds for Rural Development), a second-tier development bank that offers credit and guarantees among other products to the agriculture, livestock, fishing, forestry and agribusiness sectors in Mexico announced a new partnership with PrimeRevenue, Inc., the leading global provider of technology-enabled working capital solutions eFactor's digital solutions, powered by PrimeRevenue's technology, will help streamline the funding of FIRA with its network of Banking and Non-Banking financial intermediaries (IF's). The foregoing will facilitate FIRA funding in the eFactor Marketplace, which is estimated to close with more than $7.5B USD in 2022. This innovative model of connecting Bank with Bank, in this case, FIRA with its network of FIs and NBFIs, is created to facilitate factoring programs for clients related to the rural, agricultural, forestry and fishing sectors, as well as localities with a population of up to 50,000 inhabitants. This is what we are seeking: to specialize and deepen services to the agribusiness sector with a leading technology company. It is an alliance where FIRA wins because it extends services with the help of technology, and we believe that eFactor wins to the extent that it can extend its services of value for the agribusiness." Jesús Alan Elizondo Flores, Managing Director of FIRA. With this alliance, FIRA extends its financial services to small, medium and large producers, for working capital and factoring. Once migrated to the FIRA portfolio, they will be able to use the resources through the eFactor Network technology's platforms. About PrimeRevenue As a pioneer in global B2B payments, the PrimeRevenue SurePay Platform connects the entire supply chain by improving working capital and automating digital payments. Thousands of companies around the world leverage one streamlined platform to increase payment visibility, enhance control, and improve cash flow. PrimeRevenue is headquartered in Atlanta, with offices in London, Prague, Hong Kong, and Melbourne. About eFactor Network eFactor Network is a fintech company, leader in working capital financing in Mexico, started in 2009 with the vision of helping large purchasing organizations improve their working capital by extending payment terms without increasing the burden of their supply chain, as well as to serve its suppliers by giving the option of obtaining an advance payment at attractive financing rates. It has alliances with development banks such as IFC World Bank, IDB Invest, Bancomext, BLADEX and PrimeRevenue; today it has more than 15,000 clients and a presence in 20+ countries where they pay company suppliers in various currencies.

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FINANCIAL MANAGEMENT

KKR Completes Acquisition of Barracuda from Thoma Bravo

Barracuda Networks, KKR and Thoma Bravo | August 18, 2022

KKR, a leading global investment firm, and Barracuda Networks, Inc. (“Barracuda” or the “Company”) a leading provider of cloud-first security solutions, today announced that KKR’s investment funds have completed an acquisition of Barracuda from Thoma Bravo, a leading software investment firm. Financial terms of the transaction were not disclosed. Barracuda is a cloud-first provider of cybersecurity solutions for small and medium sized enterprises (SMEs). More than 200,000 customers worldwide count on Barracuda to protect their email, networks, applications, and data. “We’re ready to deliver on our next phase of growth with KKR and remain dedicated to investing in our team and product portfolio to provide innovative cybersecurity solutions for our customers and partners, We‘re grateful to Thoma Bravo for their valuable strategic and operational support over the last four years.” -Hatem Naguib, CEO of Barracuda We are excited to complete this transaction and begin working with the Barracuda team to support their continued growth and delivery of next generation cloud-first cybersecurity solutions that protect SMEs from an evolving landscape of threats, said John Park, a Partner at KKR. Barracuda has been a tremendous partner over the last four years and has experienced strong product, customer and revenue growth, We have enjoyed working closely with Hatem and his team through multiple acquisitions and operational improvements, and we are confident that the company is well-positioned for continued success,said Chip Virnig, a Partner at Thoma Bravo. J.P. Morgan served as exclusive financial advisor to Thoma Bravo and Barracuda. Kirkland & Ellis LLP served as legal counsel to Thoma Bravo and Barracuda. Simpson Thacher & Bartlett LLP served as legal counsel to KKR. Guggenheim Securities, DBO Partners and Barclays served as financial advisors to KKR. About Barracuda Networks At Barracuda we strive to make the world a safer place. We believe every business deserves access to cloud-first, enterprise-grade security solutions that are easy to buy, deploy, and use. We protect email, networks, data, and applications with innovative solutions that grow and adapt with our customers' journey. More than 200,000 organizations worldwide trust Barracuda to protect them – in ways they may not even know they are at risk — so they can focus on taking their business to the next level. About KKR KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. About Thoma Bravo Thoma Bravo is one of the largest private equity firms in the world, with more than $114 billion in assets under management as of March 31, 2022. The firm invests in growth-oriented, innovative companies operating in the software and technology sectors. Leveraging the firm’s deep sector expertise and proven strategic and operational capabilities, Thoma Bravo collaborates with its portfolio companies to implement operating best practices, drive growth initiatives and make accretive acquisitions intended to accelerate revenue and earnings. Over the past 20 years, the firm has acquired or invested in more than 380 companies representing over $190 billion in enterprise value. The firm has offices in Chicago, Miami and San Francisco.

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CORE BANKING

Rêv Partners with Searchlight Capital Partners to Acquire Netspend Consumer Business

Rev, Searchlight Capital and Netspend | August 08, 2022

Rêv Worldwide, Inc., an international fintech company, and Global Payments, a leading worldwide provider of payment technology and software solutions, announced that Rêv, in partnership with funds advised by Searchlight Capital Partners, L.P., has entered into a definitive agreement to acquire the Netspend consumer business from Global Payments in an all cash transaction valued at $1 billion. The acquisition brings back Netspend’s founders, Roy and Bertrand Sosa, who also founded Rêv. The Sosa brothers look to leverage the strategic assets of the two entities to build a global, high growth company that delivers on a mission of financial empowerment and product innovation. For Searchlight, this transaction represents another exciting partnership with dynamic fintech entrepreneurs while also being able to support growth and innovation for consumer financial services to underserved markets. With this sale, Global Payments delivers on its commitment to divest itself from Netspend’s consumer business, allowing the company to focus on its core B2B operations and growth opportunities with Rêv as a partner. Since the Sosas founded Netspend in 1999, the company’s consumer business has developed into a clear industry leader in the prepaid and debit card space serving millions of customers nationwide, processing hundreds of billions of dollars of cardholder purchases, and established the largest retail partner network with over 130,000 locations nationwide where consumers can load their prepaid and debit card products. Netspend’s consumer products are also available online via direct-to-consumer mobile and web channels. “We’ve gone full circle, launching programs with partners around the globe in our journey to provide innovative financial services to underserved mass markets. We are very excited by the opportunity to partner with the Netspend consumer team and Searchlight as we deliver new products, expand into new markets and add more value to customers across the world,” - Roy Sosa, Chairman and Chief Executive Officer, Rêv Christopher Cruz, Partner, Searchlight, added “The characteristics of this investment are rare to find. Combining an industry leading operation in Netspend’s consumer business with modern platform technology and digitally native solutions from Rêv unlocks great growth potential by meeting the needs of a significant and sizable market. We look forward to partnering with Roy, Bertrand, and the Rêv team as they continue their mission to financially empower underserved consumers through fintech innovation.” According to a recent industry report, the global market for Prepaid Cards, estimated at US$1.6 Trillion in the year 2020, is projected to reach US$2.7 Trillion by 2026, growing at a CAGR of 9.6% over the analysis period. Leveraging its proprietary multi-currency payments and loyalty product platform, Rêv provides mobile-first payment solutions and offers banking-as-a-service capabilities for partners around the world, such as Etihad Airways, Itaú Private Bank, LATAM Airlines; as well as direct-to-consumer branded products owned and managed by Rêv, such as the recently launched X World Wallet currently available in the U.S. For Bertrand Sosa, President of Rêv, “The market opportunity for Netspend’s consumer business has always been massive, as evidenced by the history of growth the company has experienced. Now we have a chance to expand upon it globally by leveraging unique synergies we bring along with our entrepreneurial spirit.” The transaction is expected to close in the first quarter of 2023 subject to relevant regulatory approvals, and customary closing conditions. Jefferies LLC is serving as lead financial advisor, and Nomura Securities International, Inc. is serving as financial advisor to Rêv. Paul, Weiss, Rifkind, Wharton & Garrison LLP is representing Searchlight, Gunderson Dettmer is advising Rêv. Evercore is serving as financial advisor to Global Payments, and Wachtell, Lipton, Rosen & Katz is representing Global Payments in the transaction. About Rêv Rêv is a fintech company, founded by prepaid debit industry pioneers Roy and Bertrand Sosa, dedicated to delivering innovative payment experiences to consumers worldwide. Its solutions are powered by the company’s proprietary multi-currency and multi-language payments processing platform. With vast experience pioneering a number of payment industry firsts, Rêv is focused on the international banking & travel sectors. Rêv has partnered with companies across the globe to launch products in North America, Latin America, Europe, the Middle East, and Asia-Pacific. About Searchlight Searchlight is a global private investment firm with over $10 billion in assets under management and offices in New York, London and Toronto. Searchlight seeks to invest in businesses where its long-term capital and strategic support accelerate value creation for all stakeholders. About Netspend Netspend is a leading provider of payments and financial solutions for consumers and businesses. From prepaid and debit card solutions to digital account and money movement services, Netspend has a broad suite of products and technologies that deliver exceptional experiences for its customers and business partners. About Global Payments Global Payments Inc. is a leading payments technology company delivering innovative software and services to customers globally. Our technologies, services and team member expertise allow us to provide a broad range of solutions that enable our customers to operate their businesses more efficiently across a variety of channels around the world. Headquartered in Georgia with approximately 25,000 team members worldwide, Global Payments is a Fortune 500® company and a member of the S&P 500 with worldwide reach spanning over 170 countries throughout North America, Europe, Asia Pacific and Latin America.

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FINANCIAL MANAGEMENT

Capital Engine® Launches Capital Engine® Go, a Lite Version of its Capital Raising and Investor Management Solution

Capital Engine | July 05, 2022

Following market demands, Capital Engine® has introduced a preconfigured version of its highly regarded Capital Engine® Investor Management software solution called “Capital Engine® Go”. Capital Engine® Go delivers the same usability as Capital Engine’s existing “Professional” version and includes our tried and tested, capital raising tools and investor management functionality. In addition, the preconfigured nature of Capital Engine® Go and the streamlined implementation methodology means there is no requirement for design, build and customization, which enables companies to be up and running quickly with a standardized version of our financial technology. Offering the new product on a SaaS basis, delivered from the cloud, gives investment management companies the advantage of a single provider for every aspect of the delivery, as well as global coverage, and a high level of scalability that enables a quick ramp-up and efficient rollout to our clients. Capital Engine® Go is aimed at forward-thinking organizations that require a focused application and that are unlikely to have to modify it to suit their organization, as well as companies that want to be able to grow the platform in the future without having to undergo major changes to their infrastructure. “Today’s launch is a significant evolution of the Capital Engine® tech-enabled platform as it offers more companies the benefits of our financial technology,” said Bryan Smith. “Today’s launch is a significant evolution of the Capital Engine® tech-enabled platform as it offers more companies the benefits of our financial technology,” said Bryan Smith. “By selecting Capital Engine Go enterprising companies can benefit from a streamlined implementation, reduced costs and integrated suite of digital investment tools, and distribution platform to connect private capital with investors of all types.” About Capital Engine® Capital Engine® works with forward-thinking organizations to help them raise capital more effectively, automate their investment operations and manage their investors with tech enabled investor management solutions. Built for high-performance capital raising, our technology helps leverage the opportunity to better originate and showcase a diverse selection of private investment deals and offer these to investors i.e. a deal’s potential viability can be better assessed, market appetite determined and transaction promptly closed. Our clients and strategic partners include real estate funds, broker dealers, investment banks, family offices, angel networks, wealth managers, incubators, accelerators, social impact, healthcare, and Reg CF portals.

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Spotlight

Acting as a gateway to cryptocurrency markets for Estonian blockchain companies and a go-to place for launching new ones, Mothership will help prospective startups build a legal framework for digital assets and execute successful funding campaigns.

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