Douugh to acquire Radical DBX in major push for embedded finance and B2B expansion

Small Caps09-27

The market seems to approve of the proposed move by Australian fintech Douugh (ASX: DOU) to acquire US digital banking specialist Radical DBX (R-DBX). Founded by some of the industry’s best and ...

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class=\"title\">\nDouugh to acquire Radical DBX in major push for embedded finance and B2B expansion\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-09-27 12:19 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://smallcaps.com.au/douugh-acquire-radical-dbx-push-embedded-finance-b2b-expansion/><strong>Small Caps</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The market seems to approve of the proposed move by Australian fintech Douugh (ASX: DOU) to acquire US digital banking specialist Radical DBX (R-DBX).\nFounded by some of the industry’s best and ...</p>\n\n<a href=\"https://smallcaps.com.au/douugh-acquire-radical-dbx-push-embedded-finance-b2b-expansion/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1815336760.USD","symbol_name":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"AUP\" (USD) 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issue\nDouugh will acquire 100% of R-DBX via the issuance of 892,823,759 DOU shares at a price of $0.005 each.\nThere will also be three tranches of performance consideration in the transaction, with the consideration to be determined based on the achievement of certain revenue criteria.\nDouugh says R-DBX remains a cash flow positive business, generating around $1.1 million in revenue in 2023.\n“We are delighted to announce the proposed acquisition of R-DBX, […] which has amassed a high-quality customer base of fintechs and financial institutions through their own limited embedded finance offering,” Douugh chief executive officer Andy Taylor said.\nCapital raising\nR-DBX will be rebranded as Stakk Technologies and seek to upsell customers with an expanded array of products and services leveraging Douugh’s cloud-native orchestration banking platform technology.\n“This acquisition will give us a major head start in launching our embedded finance offering, with a core focus on credit-as-a-service in the US market as well as scaling up our presence in Australia and later in the wider Asia Pac[ific] region,” Mr Taylor said.\n“Importantly, it gives us the opportunity to commercialise the US component of our technology platform, which we have invested so heavily in developing since our founding.”\n“This is a major win for our shareholders.”\nDouugh – which also intends to rebrand as Stakk to “reflect its strategic focus on business-to-business (B2B) platform services” – has secured $1m in working capital via a convertible loan from US-based Relentless Fintech Partners.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; 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