ExcelFin Acquisition, a blank check company formed by Fin Venture Capital and Grand Fortune Capital targeting fintech, raised $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.
The company is led by CEO and Director Logan Allin, the founder and Managing General Partner of Fin Venture Capital and former VP of SoFi Ventures, and Chairman Jennifer Hill, the founder and CEO of Murphy Hill Consulting and former CFO of Merrill Lynch. The company plans to target the US financial technology (fintech) sector, focusing on high-quality growth-oriented businesses in fintech B2B SaaS.
ExcelFin Acquisition plans to list on the Nasdaq under the symbol XFINU. UBS Investment Bank acted as sole bookrunner on the deal.
