SoFi Invests in Apex After Acquisition Talks Fail

SoFi was in talks to acquire clearing and custody firm Apex but the talks failed and the lender instead made a minority investment; Apex backs some of the biggest robo advisors in the market and SoFi was looking to buy the firm to build their own digital wealth platform; Apex reportedly wanted about $600mn and SoFi was unwilling to go that high; the deal would have brought SoFi’s custody and clearing in house and expanded the lender’s wealth management offering. Source.

Todd is the Chief Product Officer of LendIt Fintech.

He is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists.

He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences.

He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.

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