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Investcorp Announces Acquisition of 8 Multifamily Properties for $330 Million in the U.S.

Vlad Poptamas

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Properties span major submarkets across Southeast and Southwest regions

Investcorp, a leading global provider and manager of alternative investment products, today announced that its U.S.-based Real Estate Investment team acquired eight new multifamily properties. The portfolio includes 2,510 units for a total purchase price of $330 million. The properties span the submarkets of five rapidly growing metro areas across the Southeast and Southwest regions: Raleigh, North Carolina; Atlanta, Georgia; Jacksonville, Florida; Phoenix, Arizona; and Dallas, Texas.

“The acquisition of this multifamily portfolio builds on our strong successes in the U.S. and European real estate markets, and demonstrates the important role we see our real estate investment business playing in our overall investment strategy for 2019,” said Rishi Kapoor, Co-Chief Executive Officer of Investcorp. “Looking ahead, the U.S. remains a priority market for us as we continue to see investment opportunities aligned with our objective of securing strong in-place cash flows and value-add opportunities.”

All the properties within this portfolio are “garden style” Class B apartment communities in locations where Investcorp has demonstrated an ability to create value and believes there are strong market dynamics.

“Not only does this portfolio closely align with our demonstrated strategy of investing in core plus U.S. real estate, but it also underscores our commitment to focusing on multifamily properties located in metro areas recognized for having solid employment and population growth. Each of these properties also offers us substantial opportunities for targeted interior and exterior renovations,” said Herb Myers, Managing Director in Real Estate Investment at Investcorp.

Investcorp’s New York-based real estate team is an active investor in U.S. commercial and residential real estate equity and high-yield debt. Since 1996, Investcorp has acquired more than 550 properties for a total value of more than $15 billion. Across the U.S., Investcorp targets existing logistics, multifamily and office properties located primarily in the largest 40 metropolitan areas with a focus on mid-market core and core-plus investment opportunities.

SOURCE Investcorp

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Fintech

Brazilian Credit Marketplace FinanZero raises USD 11 Million in Series B Round

Vlad Poptamas

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 FinanZero, a Brazilian fintech that operates as a consumer loan broker, received a new round of investment, raising USD 11 million from Atlant Fonder, Dunross & Co and Vostok Emerging Finance, among other investors.

“FinanZero will improve its technical platform and invest heavily in marketing to increase the visibility of the brand. We have already received more than 3 million loan applications in three years of operation in the Brazilian market,” explains Olle Widén, CEO of FinanZero.

“Today, the company has a growth of 50% per quarter, which adds up to more than 1 million visitors on our site per month,” adds Widén.

The fintech was founded in 2016 by Webrock Ventures, Zentro Global Partners and Olle Widén. That same year, it received an investment of USD 1.25 million from the public fund Vostok Emerging Finance and began the process of expanding its operations. Inspired by the success of the business model in Sweden, FinanZero was created in Brazil, where the fintech market is growing rapidly.

Brazil remains our favored fintech market globally, and through FinanZero we have one of the best ways to play its extremely attractive consumer finance market. With a strong team, partnerships and growing traction, we are more than happy to continue to support team FinanZero on this exciting journey,” says David Nangle, CEO of Vostok Emerging Finance.

 

SOURCE FinanZero

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Fintech

Largest FinTech Event In Southeast Announces 2020 Dates

Vlad Poptamas

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The Technology Association of Georgia (TAG) has announced the return of its landmark fintech event FinTech South. The event, drawing more than 1,400 fintech leaders, will be back at the Mercedes-Benz Stadium in downtown Atlanta April 27-28, 2020.

FinTech South brings together global leaders, key companies and the hottest trends in the industry for an exchange of insights and innovations that fuel tomorrow’s financial technology industry.

This year’s conference was another sold-out event, featuring 90+ key thought leaders in the industry, along with current and emerging FinTech leaders from across the globe. National fintech executives led panel discussions, interactive demos and 24 provocative break-out sessions, exploring the fast-paced shifts and global implications of the fintech ecosystem in a world of constant change.

Highlighting the event was the announcement of the winner of the annual Innovation Challenge startup pitch contest. Each year, TAG gives $50K to an innovative fintech startup- the largest cash award of its kind. This year’s winner was Stackfolio, an Atlanta-based online marketplace for loan trading, offering a completely digital transaction process that does not require human brokers.

“TAG is excited to announce that FinTech South will return next year, bringing back what has become a significant international FinTech event,” said Larry K. Williams, President and CEO of TAG. “This event has become the connecting point for companies that are leading the most important, global innovations in the FinTech industry.”

Georgia Gov. Brian P. Kemp joined the event, giving remarks praising the fintech industry for boosting the state’s economy and helping to build a vibrant workforce pipeline.

Georgia has deep roots in fintech and has become a leading global hub for the industry. Some 57.7 billion U.S. purchase transactions are processed by Georgia-based acquirers and 70% of all credit, debit and prepaid card sales in the nation are handled by Atlanta-based firms earning the city the nickname “Transaction Alley.”  The top 20 Georgia-based FinTech’s alone generate an estimated $72 billion in annual revenue.

Planning for next year’s event has begun and sponsorship opportunities are available. To take advantage of early-bird pricing, contact Kyle Ross at kyle@tagonline.org.

 

SOURCE Technology Association of Georgia

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Fintech

Technology Association of Georgia Names Brightwell 2019 FinTech ADVANCE Award Winner

Vlad Poptamas

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Brightwell Payments, Inc., a FinTech company that helps global workers get paid as well as send and spend money safely and easily worldwide, announced today the Technology Association of Georgia (TAG), the foremost organization devoted to the advancement of Georgia’s technology industry, has selected Brightwell as a 2019 TAG FinTech ADVANCE Award winner. Brightwell is among six companies with proven innovative fintech solutions selected to receive this year’s award and will be recognized on stage during the FinTech South conference April 22 – 23, 2019 in Atlanta.

In addition to the FinTech ADVANCE award, Brightwell was recently recognized by the Atlanta Business Chronicle as one of Georgia’s 25 Largest FinTech Companies and by the Atlanta Journal-Constitution as one of the city’s 2019 Top Workplaces.

“We are passionate about improving the lives of global workers by giving them a safe and easy way to manage, save and send money while working away from home — a level of financial freedom that was previously unobtainable,” said Mike Gaburo, CEO of Brightwell. “The FinTech ADVANCE award and other recent honors are a testament to our commitment to innovation that solves real problems for our customers and end users. My hat goes off to our diverse, passionate and dynamic team. We have more than tripled the size of our company over the past three years and look forward to continuing to grow and serve new markets.”

 

SOURCE Brightwell

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