The small business spend platform’s acquisition of Innovative Technology Group’s Wishlife allows them to further their rapid growth and success.
FinTech spend management platform Torpago announces the acquisition of Wishlife, a technology company that specializes in innovative and secure video communications and content management software. The acquisition is uniquely structured as an all-stock deal, affirming Wishlife’s belief in the mission, vision, and values of Torpago’s brand and continued growth for the company. Earlier this year, Torpago announced the closing of a $77 million round – made up of $2M debt equity and $75 million in credit facilities – led by Operate, after over 100% MOM growth through 2021.
The technology team at Wishlife, led by Lei Wang, will integrate into Torpago as Wang becomes the company’s CTO. The integration also includes Torpago’s acquisition of Wishlife’s premier technology talent, aimed at enhancing their product roadmap and technology capabilities. To date, Wishlife has worked with Fortune 500 companies and small firms, earning themselves high regard for their cutting-edge technology in the industry.
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“We are very excited to bring cutting edge technology, know-how and an amazing team to the table.” shares Wang. “We are committed to build a secure and scalable spend management platform that empowers businesses of all sizes.”
As a part of the acquisition, Walter Kortschak, Founder of Kortschak Investments and an investor in Wishlife, will join the Torpago Board of Directors. Mr. Kortschak’s investment career spans nearly 5 decades and brings a breadth of expertise to the company.
“We feel that our infrastructure and customer acquisition strategy marries perfectly with the Wishlife technical team and this acquisition will allow great synergies to bloom in 2022.” adds Torpago CEO Brent Jackson.
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