April 19, 2024

Fintech Stock

Nest Egg Investments to be Purchased by GoLogiq in a $30 Million Agreement

GoLogiq, a fintech data analytics business based in the United States, has signed a binding intention letter to acquire Nest Egg Investments worth $30 million. Nest Egg Investments now provides a mobile app that can help plan, discover, and automate retirement savings. The company offers customized financing options that enable consumers to select or develop portfolios and automate transaction executions. The company also provides a variety of investment services and products through its brokerage subsidiary Nest Egg Securities.

GoLogiq will acquire Nest Egg Ventures as a wholly-owned subsidiary as a component of the latest Fintech stock transaction, slated to close in the 1st quarter of 2023. Nest Egg investors will also receive $30 million in GoLogiq common stock in exchange for 100% ownership of Nest Egg and its affiliates. Nest Egg CEO Trent McKendrick intends to join GoLoqiq after completing the transaction. The agreement supplements GoLogiq’s recently announced $320 million merger with financial startup GammaRey, which had planned to buy Nest Egg.

 

According to reports, Millennials and Gen Zs’ financial fortunes climbed by 25% last year, while their overall assets jumped from $2.9 trillion to $3.6 trillion. Brent Suen, the interim CEO of GoLogiq stated that the strong foundations in e-commerce, mobile app development, bill payment, and the inclusion of GammaRey render a fantastic fit for Nest Egg. He believed that Nest Egg’s highly talented and successful leadership team would assist them in realizing the larger goal of a comprehensive financial platform that helps underprivileged businesses and consumers in the United States and worldwide.

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