New York, Nov. 08, 2022 (GLOBE NEWSWIRE) — FinTech pioneers and founders of The Bancorp, mother-son duo Betsy and Daniel Cohen, today announced that they are consolidating the public investment business , private and venture capital of their company under a new name – Cohen’s Circle. Formerly known as FinTech Masala, the name change is a move to reflect their diverse investments across multiple sectors and stages of business growth.
Ms. Cohen said, “As we expand our scope beyond fintech, we felt the time was right to change our company name. As former CEOs, operators and founders, our new name reflects the important relationships our team has built over decades in the field. When someone joins our circle, they have access to the depth of our industry experience and the breadth of our extensive network,” she said.
To date, the Cohen Circle team has raised over $5 billion in capital across various investment vehicles while successfully taking five companies to the public markets through SPACs, earning Ms. Cohen the title of SPAC Queen.
Mr. Cohen said, “Although the recent macroeconomic environment has been challenging, SPACs have emerged as a viable path for large companies ready to transition to public procurement. We will continue to be opportunistic and seek transactions in this space.
The Cohens have extensive experience in banking and financial ecosystems – they founded Bancorp in 1999 – a digital bank providing banking services to thousands of fintech companies, including Paypal. Ms. Cohen founded three banks and was one of the first women in the United States to receive a banking charter. Mr. Cohen founded Cohen & Company, an asset manager with $2.2 billion in assets under management.
Since 2015, the Cohen Circle team has invested in more than 25 fintech companies, including payments platform Payoneer, bill payment provider BillGO and document automation platform Ocrolus.
“We remain excited about the fintech opportunity in light of what we see as more reasonable valuations, more advanced technology, and validation of our long-standing belief that integrated finance is at the heart of consumers and businesses. businesses,” Mr. Cohen said.
The team is also excited about its growing impact and is creating an all-female team to lead this initiative.
Ms. Cohen said, “We view the impact space as an opportunity to leverage our expertise in operating and growing businesses to invest in companies that solve critical social issues while generating compelling returns. Social needs are high and global valuations are lower than they have been in a long time.
In addition to the Cohens, Amanda Abrams serves as the company’s CEO, joining CardConnect’s leadership team after she and the Cohens took the integrated payments company public through their first SPAC in 2016.
Ms. Abrams said, “The Cohen Circle name signifies our team’s commitment to supporting founders throughout the lifecycle of their business, from raising initial funding rounds to preparing for an exit. We like to say that we don’t make deals, we make relationships and partnerships. The people who work with us know that we always bring the right people to the table.
To support their growing reach, the Cohens have also added new members to the operations and investments team, bringing in a new COO, Head of Finance, CMO, Vice President and Analyst since 2021. In addition to changing the name of their business and to update their visual branding, Cohen Circle also launched a new website, cohencircle.com.
About the Cohen Circle
Cohen Circle (formerly FinTech Masala) is an investment firm founded by financial services pioneers Betsy Cohen and her son Daniel Cohen. Since 2015, the firm has provided transformative capital to growth-stage fintech companies. Today, we are making investments across the capital structure in fintech, technology and impact, with over $5 billion in capital raised.
Our decades of experience as founders, operators and innovators uniquely positions us to capitalize and transform businesses through our significant networks and expertise.
For more information, visit cohencircle.com.
General information: [email protected]
Press inquiries: [email protected]
Photo run with the post
Photo credit: Ben Hider