Goodwin Procter ranked as one of the top 5 most active law firms advising on publicly disclosed FinTech industry deals in 2015, according to PitchBook and SNL rankings. The firm advised on and completed approximately 40 M&A and financing transactions last year with a combined deal value of approximately $3.4 billion. Having represented more than 25% of this year’s Forbes FinTech 50 list, Goodwin is a recognized market leader in the FinTech sector and serves an extensive client base on corporate, regulatory and litigation matters.
A sampling of noteworthy deals the FinTech Practice advised on in 2015 include:
- Xoom in $890 Million Sale to PayPal
- Borderfree in $395 Million Sale to Pitney Bowes
- Paydiant in Sale to PayPal
- LendingHome in $70 Million Series C Financing
- Affirm in $275 Million Financing
- WePay in $40 Million Series D Financing
- RealtyMogul.com in $35 Million Series B Financing
The FinTech industry continued to experience significant upward growth in 2015, with reports of M&A transaction value more than doubling in 2015 compared to 2014 to $64 billion, and overall transaction volume increasing by 14% to 427 M&A deals. Research also reports that global investment in fintech firms has jumped 66% to over $20 billion, and according to recent studies, worldwide IT spending on financial services has tripled since 2008 and is expected to reach over $600 billion by 2020.
Goodwin Procter’s FinTech Practice is backed by a cross-disciplinary team of approximately 70 attorneys with expertise in financial services, private equity, technology, investigations, intellectual property, consumer financial services, business and securities litigation. The practice counsels a wide variety of clients in the FinTech sector, advising them on a range of matters, including digital currencies, payment systems, online foreign exchanges, marketplace lending, global securities lending and trading, consumer privacy and information management, financial risk assessment and payroll management solutions. The practice is led by partners Amber Dolman, Robert Bishop and Brian McPeake.