Deals
Reid Hoffman's Anti-Poverty Venture Joins Fintech M&A Boom
- U.K.’s Crown Agents buys LinkedIn co-founder’s Segovia venture
- Deal aims to ease money transfers to frontier African markets
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It started out as social impact investing for Reid Hoffman, but the LinkedIn billionaire ended up joining the dealmaking spree reshaping fintech’s hottest sector.
British-based Crown Agents Bank said Thursday that it would acquire part of Segovia, an African-focused payment-software venture where Hoffman was the lead investor. Hoffman and other backers of Segovia will become minority shareholders in Crown Agents Bank, which is controlled by Helios Investment Partners. Terms of the deal weren’t disclosed.