12 January 2023

Fidelity Buys FinTech Shoobx

Written By FinTech Alliance in FinTech

Fidelity Buys FinTech Shoobx

Fidelity Investments has acquired Shoobx, marking their first acquisition in seven years

IN BRIEF:

- Shoobx will join Fidelity’s Stock Plan Services business, which provides equity compensation plan recordkeeping and administration services

- It will also offer automated creation of “due diligence” documents, a data room for the secure storing and sharing of confidential business information, and data modelling capabilities to provide companies with possible “next round” investment planning and exit scenarios

- Fidelity says that the deal will enable it to offer companies full capitalisation table capabilities to manage equity ownership and market capitalisation, as well as maintain the calculation of their market value

What does this mean?

Kevin Barry, Head, Fidelity Workplace Investing, commented “given the success of our commercial relationship with Shoobx and the increasing demand from private companies to support them as they scale and grow, including helping their employees manage their financial well-being, acquiring Shoobx was a natural next step in our relationship.”

Read more here

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