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April 13, 2021, 3:50 p.m. EDT

4 Fintech Stocks To Watch In April

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Social Capital Hedosophia Holdings Corp V

Social Capital Hedosophia is a special purpose acquisition company (SPAC) that is backed by Chamath Palihapitiya. Any SPAC related to the former Facebook ( NASDAQ:FB ) exec is sure to attract investors' attention. The merger values SoFi at over $8.6 billion and SoFi would gain $2.4 billion in cash upon completion. SoFi is a leading next-generation financial services platform. It is a member-centric, one-stop-shop for financial services including loans, mortgages, credit cards, insurance, investing, and deposit accounts. The platform currently has 1.8 million members and it anticipates reaching 3 million by the end of this year.

SoFi has been taking several initiatives in strengthening its position as a financial service provider. The company acquired Galileo last year. For those unfamiliar, Galileo is a leading provider of critical technology infrastructure services and currently has approximately 50 million accounts on its platform.

The company also announced plans to acquire California bank, Golden Pacific Bancorp ( OTCMKTS: GPBI ). The acquisition represents a key milestone for SoFi to obtain a national bank charter. Considering its app will soon enable users to invest in initial public offerings, it could lure new market participants to join its trading platform. With all these in mind, would you consider buying IPOE stock?

[Read More] Best Stocks To Buy Now? 4 Tech Stocks to Watch

UP Fintech Holding Limited

UP Fintech, known as "Tiger Brokers", is a leading online brokerage firm that caters to customers on a global scale. Its proprietary mobile and online trading platform enable investors to trade in equities and other financial instruments on multiple exchanges. In its recent Q4 2020 financial results, revenues rose over 136.5% year-over-year to $47.2 million.

The company recorded $10.3 million in Non-GAAP net income in the fourth quarter. That was a significant jump from $0.3 million a year ago. All that is thanks to the increase in the total number of customers with deposits, which jumped by 128.4% to 258,700.

Despite its strong performance, UP Fintech is not resting on its laurels. The company recently issued another $90 million of convertible notes. Adding this to the $65 million convertible notes issued earlier this year would further strengthen the company's financial position. The company has also expanded its brokerage capabilities to facilitate clients in Singapore and Australia a few months ago. With impressive financials and thriving market activities, would you invest in TIGR stock?

COMTEX_384375977/2688/2021-04-13T15:49:57

Is there a problem with this press release? Contact the source provider Comtex at editorial@comtex.com. You can also contact MarketWatch Customer Service via our Customer Center.

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