Personal Capital sells to Empower Retirement in deal worth up to $1B

Personal Capital sells to Empower Retirement in deal worth up to $1B

3 years ago
Anonymous $GRbK1oXs9y

https://techcrunch.com/2020/06/29/personal-capital-sells-to-empower-retirement-in-deal-worth-up-to-1b/

Today Personal Capital, a fintech company that had attracted over $265 million in private funding, announced that it is selling itself to Empower Retirement, a company that provides retirement services to other companies. The deal is worth $825 million upon closing, with another $175 million in what are described as “planned growth” incentives, according to a release.

The deal is a likely win for Personal Capital . According to Forbes the firm was worth $660 million around the time of its Series F round of funds, which it raised in February of 2019. The company was valued at around $500 million in December of 2016, meaning that investors who put capital in at that point, or before, likely did well on their investment.

Personal Capital sells to Empower Retirement in deal worth up to $1B

Jun 29, 2020, 5:44pm UTC
https://techcrunch.com/2020/06/29/personal-capital-sells-to-empower-retirement-in-deal-worth-up-to-1b/ > Today Personal Capital, a fintech company that had attracted over $265 million in private funding, announced that it is selling itself to Empower Retirement, a company that provides retirement services to other companies. The deal is worth $825 million upon closing, with another $175 million in what are described as “planned growth” incentives, according to a release. > The deal is a likely win for Personal Capital . According to Forbes the firm was worth $660 million around the time of its Series F round of funds, which it raised in February of 2019. The company was valued at around $500 million in December of 2016, meaning that investors who put capital in at that point, or before, likely did well on their investment.