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  6. Suma Wealth Acquires Reel

M&A Deal Summary

Suma Wealth Acquires Reel

On February 7, 2023, Suma Wealth acquired internet software and services company Reel

Acquisition Highlights
  • This is Suma Wealth’s 1st transaction in the Internet Software and Services sector.
  • This is Suma Wealth’s 1st transaction in the United States.
  • This is Suma Wealth’s 1st transaction in California.

M&A Deal Summary
Date 2023-02-07
Target Reel
Sector Internet Software and Services
Buyer(s) Suma Wealth
Deal Type Add-on Acquisition

Target

Reel

Los Angeles, California, United States
Reel is an operator of a savings and personal finance platform. Reel's proprietary algorithm that suggests multivariate savings plans based on a number of factors that are personal to each user and other resources that will lead to more transactions. Reel is based in Los Angeles, California.

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Buyer(S) 1

Buyer

Suma Wealth

Los Angeles, California, United States
Category Company
Founded 2019
Sector Financial Services
DESCRIPTION

Suma Wealth is a financial technology company devoted to increasing prosperity, opportunity, and financial inclusion for young U.S. Latinos experiences that help the community to build wealth and control their financial future. Suma Wealth was founded in 2019 and is based in Los Angeles, California.

DEAL STATS #
Overall 1 of 1
Sector: Internet Software and Services M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: California M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2023 M&A 1 of 1
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