Empower Finance Acquires Petal and Completes Acquisition of Cashalo

Empower Retirement Acquires Personal Capital

June 29, 2020

Wealth Management

Empower Retirement has acquired digital wealth manager Personal Capital for up to $1 billion in enterprise value (approximately $825 million at closing plus up to $175 million for growth). The acquisition combines Empower's retirement plan services with Personal Capital's digital-first financial planning and wealth management platform to deliver integrated digital and human advice to retirement plan participants and individual investors.

Marqeta Acquires Power Finance, Inc.

January 30, 2023

Payments & Fintech

Marqeta acquired credit card program management platform Power Finance, strengthening Marqeta's credit capabilities and accelerating its ability to offer modern credit products. The all-cash transaction announced January 30, 2023 (and completed in early February 2023) included approximately $223 million in cash plus up to $52 million in milestone payments.

Tandem Bank Acquires Consumer Lender Oplo

January 12, 2022

Financial Services

Tandem Bank is acquiring fast-growing UK consumer lender Oplo to create a larger, purpose-led digital bank focused on fairer and greener financial products. The combination — spearheaded by Pollen Street Capital — will produce a profitable digital bank with roughly £1.2 billion of assets, about £1 billion of funding, over 171,000 customers and regulatory approval to complete by end of January 2022.

Celero Commerce Acquires Finical

October 11, 2023

Payments & Fintech

Nashville-based Celero Commerce has acquired Dallas-based Finical, a provider of electronic payments technology for small and mid-sized businesses. The deal expands Celero's capabilities and scale in payments processing — bringing its pro forma annual card volume to roughly $25 billion — and marks Celero's tenth acquisition since launching in 2018.

Celero Commerce Acquires Elmhurst Financial Services and Tandem Innovative Payment Solutions

June 18, 2019

Payments & Fintech

Celero Commerce acquired Elmhurst Financial Services and Tandem Innovative Payment Solutions to expand its distribution and technology capabilities for financial institutions and SMB merchants. The transactions strengthen Celero's payment processing, business management software, and technology offerings and extend its service footprint to approximately 25,000 merchants and ~$10 billion in annual payment volume.

Holley Intermediate Holdings Acquires Empower, Ltd. (SPAC Merger)

June 24, 2021

Automotive

Empower, Ltd. (a NYSE-listed SPAC) announced the SEC declared its S-4 registration statement effective, moving the proposed business combination with Holley Intermediate Holdings, Inc. toward an extraordinary shareholder vote. Empower shareholders will vote on the merger on July 14, 2021, and if approved the parties expect to close shortly after the meeting, with Empower changing its name to “Holley.”