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HomeBreaking NewsSo much fintech M&A

So much fintech M&A

'Quick read' news summary

Welcome to The Interchange! If you received this in your inbox, thank you for signing up and your vote of confidence. If you’re reading this as a post on our site, sign up here so you can receive it directly in the future. Every week, I’ll take a look at the hottest fintech news of the previous week. This will include everything from funding rounds to trends to an analysis of a particular space to hot takes on a particular company or phenomenon. There’s a lot of fintech news out there and it’s my job to stay on top of it — and make sense of it — so you can stay in the know. — Mary Ann

On Friday, January 13, investment giant BlackRock announced it was acquiring a minority stake in SMB 401(k) provider startup Human Interest. Terms of the deal weren’t disclosed, but it definitely caught my attention for a few reasons. For one, as one source told me, BlackRock’s investment is a show of faith in the SMB 401(k) market — one where the firm hasn’t historically played. That same source, who preferred not to be named, pointed out that “SECURE 2.0’s auto-enrollment provisions (among others), will make 401k plans more impactful at the lower end of the market, and Human Interest is well-positioned to execute.”

I’ve been writing about Human Interest since March 2020, covering each of its funding rounds since then (here, here and here), and following its impressive growth. It achieved unicorn status in August 2021 and at the time was eyeing an IPO. A lot has changed in the markets since then, so this feels like a good outcome for the startup, which was founded by Paul Sawaya

If you received this in your inbox, thank you for signing up and your vote of confidence. If you’re reading this as a post on our site, sign up here so you can receive it directly in the future. Every week, I’ll take a look at the hottest fintech news of the previous week.

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