Celcoin, a leading company in the Banking as a Service (BaaS) financial technology market, announced a US$125 million investment led by global growth equity investor Summit Partners. Summit has a long history of partnering with market-leading fintech companies, including EngageSmart (NYSE: ESMT), Corpay (NYSE: CPAY), and Calypso Technology. The new funding will support Celcoin’s expansion plans as the company works to continue delivering new and innovative products to strengthen its leadership position in the BaaS and embedded finance market.
Latham & Watkins LLP represented Summit Partners in the transaction with a corporate deal team led by Boston partners Ryan McCarthy and John Miller, and New York partner Gianluca Bacchiocchi, with associates Pat Argenio, Andrew Rondeau, and Cherrie Wang. Advice was also provided on tax matters by Washington, D.C. partner Andrea Ramezan-Jackson, with associate Jeremiah Cowen; on benefits and compensation matters by Los Angeles/Orange County partner Michelle Carpenter; on anti-corruption matters by Washington, D.C. partner Erin Brown Jones; and on ESG matters by New York partner Betty Huber, with associate Austin Pierce.
