Windsor Drake
Transaction · BaaS · 2020

Megalith Financial Acquisition Corporation / BankMobile 2020

Megalith Financial Acquisition Corporation acquired BankMobile on August 1, 2020.

Target
BankMobile
Acquirer
Megalith Financial Acquisition Corporation
Announced
August 1, 2020
Sub-sector
BaaS

Transaction overview

  • Megalith Financial Acquisition Corporation announced the acquisition of BankMobile on August 1, 2020.
  • The deal is expected to close pending customary conditions.

Strategic rationale

SPAC combination to take digital banking platform with BaaS model and campus partnerships public via NYSE listing.

Deal terms & multiples

Deal value
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Target revenue
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Target EBITDA
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EV / Revenue
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EV / EBITDA
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Announcement
August 1, 2020
Acquirer
Megalith Financial Acquisition Corporation (Strategic)
Sub-sector
BaaS

Frequently asked questions

When did Megalith Financial Acquisition Corporation announce the acquisition of BankMobile?

Megalith Financial Acquisition Corporation announced the acquisition of BankMobile on August 1, 2020.

What sub-sector is BankMobile in?

BankMobile is tracked in the BaaS sub-sector.

Sources

  • crowdfundinsider.com /2020/11/169385-digital-banking-luvleen-sidhu-ceo-at-bankmobile-claims-online-banks-might-be-even-safer-than-physical-branches/

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