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Atlanta-based lending platform Angel Oak Companies has invested in two international firms since May, bolstering its technology capabilities as it helps investors tap into new opportunities.
The company announced Wednesday that it had acquired Toronto-based Covience, a software and cloud computing firm that helping banks digital services and payment capabilities.
The move comes just one month after Angel Oak’s venture arm invested $3 million to take a strategic investment in Asset Class, a Dublin-based fintech firm that also provides customized and packaged software solutions for the financial services industry. Sreeni Prabhu, co-CEO of Angel Oak Companies, and Nik Chillar, co-president of Angel Oak Commercial Lending, were slated to join the board of directors of Asset Class. The platform focuses heavily on digitizing the processes of firms raising capital or managing investments.
Angel Oak said in a news release that the moves aimed to enhance its digital capabilities while growing its global presence.
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