UBS and Wealthfront terminate merger
UBS and Wealthfront have mutually agreed to terminate their merger deal and instead, UBS has purchased a $69.7m note convertible into the WealthTech’s shares.
Top FinTech acquisitions in 2022, so far
With 2022 more than halfway finished, it has been a mixed year. Wars, rising cost of living, interest rate hikes, supply chain issues and multiple extreme weather conditions. There has been a lot to cope with.
Market reactions to UBS acquisition of Wealthfront
UBS recently re-entered the robo-advisory market through its $1.4bn acquisition of wealth management provider Wealthfront. However, this is not its first foray in the robo-advisor space.
UBS expands US foothold with Wealthfront take-over
Investment bank UBS has entered into an agreement to acquire automated wealth management provider Wealthfront in a $1.4bn all-cash deal.
Wealthfront acquires Grove to support its ‘self-driving money’ goal
Robo-advisor platform Wealthfront has acquired financial planning startup Grove to enhance ‘self-driving money.’
FinTech investor Ribbit Capital looks for $300m for new fund
Palo Alto-based FinTech investor Ribbit Capital is on the hunt for a new fund. The Wealthfront, Avant and Funding Circle backer is looking for $300m, according to an SEC filing.