EFIC1 will target fintechs with a value of at least €1 billion ($1.14 billion) in Europe, the UK, and Israel. This follows other SPACs launching in recent months to target European fintechs: North Atlantic Acquisition and Lakestar SPAC I SE are worth $300 million and $332 million respectively. Here’s why SPAC deals are set to accelerate in Europe:.
Besides its US presence, the bank also operates in countries including the UK, Israel, Canada, and Denmark. Strategy: SVB’s relatively large asset size and its own technological savvy have enabled the bank to start acquiring both FIs and fintechs to further add value to its customers. In August 2015, SVB acquired API provider Standard Treasury to streamline its digital product delivery.
Israel-based Plataine is one of those partners, and CMO Amir Ben Assa’s thinks smart glasses represent a “fourth industrial revolution” that revolves around a necessity to get things done in real-time.