Leading FinTech Company Marlette Announces $225 Million Preferred Equity Raise
Summary
10, 2022) – Best Egg, the machine learning powered, online credit and financial wellness platform that is owned and operated by Marlette Holdings, Inc, announced today that it has secured $225 million in committed preferred equity capital. The Series E capital round was led by the Healthcare of Ontario Pension Plan (HOOPP), which manages over $80 billion in assets, with participation from investment funds advised by Davidson Kempner Capital Management LP, as well as a large international bank. “Marlette is a FinTech market leader with a proven track record for growing the business, delivering strong customer service and generating consistent results,” said Jennifer Shum, AVP, derivatives & fixed income, HOOPP. “HOOPP is pleased to be a financial partner and to support Marlette’s continued innovation and growth, which will serve their customers while also helping to deliver retirement security to HOOPP members.” Marlette recently announced several management changes, including the appointment of Jason Swift as president of Best Egg credit card services. Guggenheim Securities LLC and Simpson Thacher & Bartlett LLP served as financial and legal advisors, respectively, to Marlette in this transaction.