Top firms act as fintech start-up sells fast

Author:  Sol Dolor
Publication: Australasian Lawyer
Publication date: 23/01/19
Publisher: Key Media

Holding Redlich and Piper Alderman advised on the sale of a fintech start-up just seven months after its founding.

Holding Redlich advised Mobecom on its acquisition of Paid by Coins, which was counselled by Piper Alderman. Mobecom, a global customer-engagement technology developer, agreed to pay $6m to $20m, depending on revenue targets achieved, for Paid by Coins. The start-up is a cryptocurrency payment platform developer that came out of Australian technology innovator Lakeba. 

The Holding Redlich team included partner Harry Kingsley and special counsel Kaveh Zegrati. Kingsley said that both Mobecom and Paid by Coins operate in a new sector of the fintech economy, and that Holding Redlich was privileged to support Mobecome on the novel acquisition and to work with the Lakeba and Piper Alderman team.

The Piper Alderman team was headed by partners Michael Bacina and Andrea Beatty.

“It’s great to see such a significant acquisition of such a young company operating in such an early-stage and rapidly growing industry. This underscores how fast and valuable blockchain businesses can become as the technology continues to be adopted. In this space, business moves very fast and it’s a pleasure to have had a collaborative approach with the legal teams overcoming challenges,” Bacina said.

The acquisition continues the relationship between Piper Alderman and Lakeba. Piper Alderman has also adopted the Paid by Coins platform.

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