Axos to acquire cash management platform Arc Technologies
What's happening
Axos Financial, through subsidiary Axos Nevada Holding, LLC, has entered a definitive agreement to acquire Arc Technologies, Inc., a San Francisco-based cash management and financial technology platform that serves technology and growth companies. The deal is Axos' fourth purchase announcement in a year and will bring Arc's cash management platform and its AI technology into Axos' offerings. Coverage appears across Investing.com, FinTech Futures, Finextra, Banking Dive and American Banker.
Why it's trending
Axos is accelerating growth through M&A, adding Arc's cash management and AI capabilities as part of a flurry of recent acquisitions.
SignalHolding at its usual pace, confirmed across 1 independent source type.
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If you run a growth-stage startup, Axos buying Arc Technologies just changed where your excess cash and payroll float might live tomorrow, and it could mean tighter integration of cash management with banking services you already use today.
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Original sources6
- Axos to buy Arc Technologies
The deal marks Axos’ fourth purchase announcement in a year.
Banking DiveJul 8 - Study shows decade-long decline in federal enforcement activity; Axos to buy San Francisco fintech and its AI tech—and more top stories in Bank HoursLinkedInJul 8
- Axos to acquire Arc Technologies
Axos Nevada Holding, LLC, a subsidiary of Axos Financial, Inc. (“Axos” or the “Company”) announced that it has entered into a definitive agreement to acquire Arc Technologies, Inc. (“Arc”), a financial technology platform serving technology and growth companies.
FinextraJul 8
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