| Date | Title | Description |
| 13.01.2025 | MoneyLion to be Acquired by Gen Digital in Billion-Dollar Deal | We are excited to share that FinTech Collective portfolio company MoneyLion (NYSE:ML) announced an agreement to be acquired by Gen Digital (NASDAQ:GEN), an $18b global leader in digital identity protection and cybersecurity with iconic bran... |
| 15.10.2024 | FinTech Collective Invests in Diesta | We are excited to announce FinTech Collective’s lead investment in Diesta’s $3.8m Seed raise. The London-based software solution for the insurance industry is focused on streamlining premium payment reconciliation for brokers and MGAs, brin... |
| 24.07.2024 | FinTech Collective Invests in bunch | We are thrilled to announce FinTech Collective’s lead role in the $15.5m Series A investment in bunch, a Berlin-based company building the end-to-end fund admin infrastructure for private markets investors. bunch’s existing investors, Motiv... |
| 03.05.2024 | FinTech Collective Invests in Simetrik | We are very pleased to announce FinTech Collective’s additional investment in Simetrik. Nearly 2 years after we led the $20m Series A, we are excited to announce our participation in the Series B.
The Series B was led by Goldman Sachs Asset... |
| 21.12.2023 | Vestwell raises $125m in Series D funding | Huge congratulations to FTC portfolio company Vestwell on their landmark $125m Series D round from growth investor Lightspeed Venture Partners. The oversubscribed round includes participation from new investors Blue Owl and HarbourVest, alo... |
| 09.11.2023 | FinTech Collective Invests in Performativ | We are thrilled to announce FinTech Collective’s lead role in the €5m+ Seed investment in Performativ, a Copenhagen based company building an operating system for wealth managers. This capital will allow Performativ to supercharge their sal... |
| 22.10.2023 | FinTech Collective Invests in Nexu | We are very pleased to announce FinTech Collective’s investment in Nexu, a Mexico City-based financing platform for car dealerships across Mexico. The company allows car dealers to offer personalized financing to both credit and leasing cus... |
| 02.10.2023 | FinTech Collective Places Its Bet on European Fintech | As New York-based fintech venture firm FinTech Collective continues our expansion, we recently opened a London office and added Toby Triebel as a Partner to anchor the European operation. |
| 31.08.2023 | Much More Than a Dream | - |
| 12.06.2023 | FinTech Collective Invests in Termii | We are very pleased to announce FinTech Collective’s investment in Termii, a Lagos based Communications Platform as-a-service (CPaaS) business. The company works with more than 10,000 businesses, nearly 90% of which are in the fintech or fi... |
| 02.06.2023 | B2B marketplaces: the next wave | For two years B2B marketplaces were on a tear – a constant topic of conversation and TechCrunch announcements, raising a combined $1b+ in funding throughout 2021 and 2022. The current market environment has put a damper on this unbridled en... |
| 09.03.2023 | Looking at the future of LatAm digital payments through the lessons of China | When analyzing the development of financial technology in emerging markets, it’s arguably more useful to examine precedents in other, previously emerging regions, rather than simply in developed markets. |
| 29.11.2022 | FinTech Collective Invests in Orda | We are excited to announce FinTech Collective’s investment in Orda, a Lagos-based company that is digitizing the long tail of African restaurants. The company is already operational in Nigeria and Kenya, and the new capital will enable Orda... |
| 27.10.2022 | FinTech Collective Invests in Mattilda | We are very pleased to announce FinTech Collective’s investment in Mattilda, a Mexico-City based SaaS solution helping private schools in Latin America streamline their financial and administrative processes. The capital will allow Mattilda... |
| 18.08.2022 | stETH Depegging: A Case Study of Cascading Events | Financial markets are a complex set of interlinked systems. Decentralized finance (DeFI) markets are even more complex: they move faster, are global in nature, and are infinitely more composable. These characteristics, unique to DeFi market... |
| 15.08.2022 | MENA-based all-in-one spend management platform for SMEs raises $12m Seed round | We are beyond excited to announce that we have participated in the $12 million Seed round in Dubai-based startup, Pemo. The round was led by Cherry Ventures. Additional investors included Shorooq Partners, Speedinvest, BY Venture Partners a... |
| 06.06.2022 | Financial Software for the Construction Industry Raises $106.3m | We are thrilled to announce FinTech Collective’s lead role in the $6.3m Seed investment in Constrafor, a New-York based company working tirelessly to build the financial OS for the construction industry. The investment was made alongside Vi... |
| 11.05.2022 | IMMO Raises $75m Series B Led By Oak HC/FT | Huge congratulations to FTC II portfolio company IMMO on their landmark $75m Series B round from growth investor Oak HC/FT. |
| 04.05.2022 | FinTech Collective Invests in Sabi | We are very pleased to announce FinTech Collective’s investment in Sabi, a fifteen-month old, Lagos-based company creating massive efficiencies across the hyper-fragmented supply chain of Africa’s informal economy. |
| 01.04.2022 | Buidling Our Web3 Future | Transitioning from building tech & companies into VC creates a unique opportunity to see new companies through an entirely different lens, one that's empathetic to the founder and cognizant of the trends creators are following. Fresh fr... |
| 30.03.2022 | NextCapital to be acquired by Goldman Sachs | We are very pleased to share that FinTech Collective portfolio company NextCapital is being acquired by Goldman Sachs, in what Goldman says is among the five largest asset management deals in its history. |
| 24.03.2022 | FinTech Collective leads Simetrik’s $24m Series A - deepening its repertoire of payment infrastructure plays within emerging markets | We are very pleased to announce that FTC has led Bogota-based Simetrik’s $24m Series A financing. The round included participation from Tiger Global and Moore Capital, among others, along with existing investors including Cometa and Monashe... |
| 16.03.2022 | FinTech Collective Launches Women Who Roar Podcast Series in Collaboration with MoneyLion | We are thrilled to announce the official launch of the Women Who Roar (WWR) podcast series in collaboration with FTC portfolio company MoneyLion. The show is hosted by Shreya Choubey, Partner at FinTech Collective, Sarah Wolter, Principal a... |
| 01.02.2022 | Global Restaurant Payments Startup Qlub Raises $17m Seed Round | We are beyond excited to back Qlub’s mission to turbocharge digital payments for the $5t+ global food and hospitality industry. The founding team members of Qlub have previously founded and scaled firms such as Lazada, Namshi, and Snapp. |
| 19.01.2022 | Dharma being acquired by OpenSea | - |
| 14.12.2021 | NYDIG Announces $1 Billion Funding Round at $7 Billion Valuation | NYDIG, a leading bitcoin company, announced today a growth equity funding round of $1 billion that will value the company at more than $7 billion. The round was led by WestCap, with participation from prior leads Bessemer Venture Partners a... |
| 10.11.2021 | Extend raises $40m for its virtual card offering to help banks better compete with fintechs | Congrats to Andrew, Guillaume, Daniel, and the Extend team on raising their $40m Series B to accelerate their mission to modernize the virtual payments stack for banks. We welcome in new investors March Capital and B Capital and double down... |
| 18.10.2021 | Berlin-based Mondu raises $14m Seed round led by FinTech Collective | We at FinTech Collective have spent the last two years hunting for the team with the experience, technical knowledge, ability to attract and hire the best talent, and a go-to market strategy that was highly aligned with our deep research of... |
| 08.10.2021 | Anyfin secures additional $52m investment led by FinTech Collective to scale its business in Germany. | The Anyfin team composed of Mikael Hussain (CEO), Sven Perkmann (CTO) and Filip Polhem (COO) are exceptional fintech entrepreneurs building a phenomenal company that is helping hardworking Europeans take control of their financial past, pre... |
| 29.09.2021 | From Pitch Deck to Public Markets MoneyLion Rings the NYSE Bell | - |
| 19.08.2021 | FinTech Collective Raises $250 Million Across Two New Strategies | FinTech Collective is thrilled to announce the successful fundraise of two new strategies: a $200m vehicle focused on early-stage investments, and a $50m vehicle solely dedicated to decentralized finance and digital assets. This brings our ... |
| 18.08.2021 | FinTech Collective Featured in Forbes, Launches New Digital Assets Strategy | We are excited to share this exclusive article by Forbes on FinTech Collective, highlighting our history as a firm and what we’ve been up to recently, including the launch of our first fund dedicated solely to decentralized finance and digi... |
| 04.08.2021 | Payments Platform Reserve Trust Raises $30.5m Series A from QED Investors and FinTech Collective | Very few companies have the potential to build foundational payments infrastructure, with the opportunity to rewire trillions of dollars of payments flow every year. |
| 22.07.2021 | Sean and Carlos - Two People You Should Get To Know (If You Don't Already) | - |
| 07.07.2021 | Creator Economy Fintech Startup Willa Raises $18M Series A Led by FinTech Collective | When you get introduced to the original growth team from Spotify by a fintech founder in Copenhagen that you know and trust, you pay attention! |
| 22.03.2021 | FinTech Collective: The Mexico Cohort | Within the vast constellation of emerging markets, FinTech Collective’s Emerging Cities thesis focuses on four metropolitan hubs that are fast becoming magnets for talent and resources, the first ingredients to the development of a formidab... |
| 10.03.2021 | Flutterwave Crosses $1b Valuation on Back of Financing Led by Tiger Global and Avenir Growth | We are thrilled for portfolio company Flutterwave on their $170m Series C announcement! The round was co-led by Tiger Global and Avenir Growth Capital. Additional investors include DST Global, Early Capital Berrywood, Green Visor Capital, G... |
| 08.03.2021 | NYDIG Raises $200m from Strategic Partners | Congratulations to portfolio company, NYDIG, for raising $200m in a growth capital round led by strategic partners Stone Ridge Holdings Group, Morgan Stanley, New York Life, MassMutual, Soros Fund Management, and FS Investments. Bessemer Ve... |
| 03.03.2021 | FinTech Collective Leads minu Series-A Round | We are excited to announce that we have led the $14 million Series A round in Mexican startup, minu. The round included participation from VEF, XYZ Ventures, and FJ Labs, as well as existing investors QED, Next Billion Ventures, and Village... |
| 26.02.2021 | The Future of Fintech: Trends and Opportunities in Lending | Matt Levinson and Octane co-founder and CEO Jason Guss examine the evolution of fintech from the first to the second generation of companies, explore the challenges and opportunities presented by the marketplace, and present their views on ... |
| 12.02.2021 | MoneyLion To Go Public Via SPAC | - |
| 04.02.2021 | Emerging Markets: an Introduction to FTC’s Emerging Cities Thesis | Supported by widespread technological adoption and shifting demographic trends, emerging market urban hubs are rapidly becoming relevant centers for entrepreneurial development and innovation. It is estimated that about 1.7 billion adults r... |
| 19.01.2021 | SPACs: A conversation with Heads of Global Markets, Banking from Market Leader Citi | Come listen to a conversation with Heads of Global Markets, Investment Banking from Market Leader Citi. We dig under the hood of what a SPAC is, what they target, and what to do as a CEO if you are approached by one. |
| 12.01.2021 | The Mortgage Firehose: A Catalyst for Fintech | In 2021, we can track a friend’s Uber ride in real time and order just about anything online with a few clicks. In this context, customers are becoming less tolerant of a painful, 40 day process to finance their most significant personal an... |
| 08.01.2021 | TradeBlock acquired by CoinDesk to service institutional interest in Bitcoin | We are very pleased to share that FinTech Collective portfolio company TradeBlock has been acquired by CoinDesk. |
| 17.12.2020 | DeFi: A conversation with Sean Lippel on Decentralized Finance | Decentralized finance, otherwise known as DeFi, sits at the intersection of financial products and services with decentralized networks and open protocols. With over $15bn of total value under protocol in DeFi from just $1bn to start the ye... |
| 17.11.2020 | OXIO raises $12m Series A round led by Atlantico and monashees | Congrats to FTC II portfolio company Oxio on their successful Series A funding round led by two of the top Latin American VCs, Atlantico Capital and monashees. |
| 29.10.2020 | Sigma Raises Venture Round Led by Fitch Group | Congrats to FTC II portfolio company Sigma on their recent funding round from Fitch Group, a global leader in financial information services. |
| 13.10.2020 | FinTech Collective Leads $50m Equity Round in NYDIG | FinTech Collective has led NYDIG’s $50m oversubscribed equity round, with participation from Bessemer Ventures, Ribbit Capital, Starr, and Stone Ridge. This round brings the total equity capital raised for NYDIG to $100m. |
| 10.09.2020 | FinTech Collective Invests in Oyster | We are very excited to announce that we have participated in the $14 million Seed round in Mexican startup, Oyster. The round was led by Monashees and SV Latam Capital. Additional investors included FJ Labs, Redpoint eventures, S7 Ventures,... |
| 27.08.2020 | FinTech Collective Invests in Fondeadora | We are very excited to announce that we have participated in the $14 million Series A round in Mexican startup, Fondeadora. The round was led by Gradient Ventures, Google’s AI-focused VC fund. Additional investors included Y Combinator, Sco... |
| 20.08.2020 | FinTech Collective Invests in IMMO | We are very excited to announce that we have participated in the €14m Series-A financing round in European startup, IMMO. Additional investors in the round included Talis Capital, HV Holtzbrinck Ventures, and Surplus Capital. |
| 26.05.2020 | Centrifuge launches Decentralized Asset Financing Protocol | Portfolio company Centrifuge achieved a milestone today in publicly launching Tinlake & the Centrifuge Chain to help bridge the gap of real world assets into the DeFi ecosystem! |
| 15.05.2020 | FTC leads investment in Latam fintech, Minka | We are very excited to announce that we led the Series Seed financing in LatAm fintech startup, Minka. Additional investors in the round included Mastercard, Colle Capital, Collaborative Fund, Carvajal, and DEG (German government developmen... |
| 14.05.2020 | Anyfin raises $30m Series B led by EQT Ventures | Huge congrats to FTC II portfolio company Anyfin on their $30m Series-B round from growth investor, EQT Ventures. |
| 13.05.2020 | Artivest acquired by iCapital Network | We are very pleased to share that Fund I portfolio company Artivest is being acquired by iCapital Network. |
| 07.04.2020 | The $80 Trillion Fintech Conundrum
Who Wins the Future of Asset Management?
Please download the report here. | To answer the question, FinTech Collective and Goldman Sachs recently hosted a conference at Goldman’s offices in London. The event brought together 80 CEOs and CIOs from some of the largest asset managers and asset owners in the world, and... |
| 12.02.2020 | MoneyLion, Axoni, and Plaid make the Forbes 50 list! | Congratulations to portfolio companies MoneyLion, Plaid, and Axoni for being named to the Forbes Fintech 50 list of most innovative FinTech companies! |
| 21.01.2020 | Flutterwave raises $35m led by Greycroft and eVentures | Huge congrats to FTC II portfolio company Flutterwave on their $35m Series-B round led by Greycroft and eVentures. |
| 14.01.2020 | Plaid Acquired by Visa for $5.3B | - |
| 15.06.2019 | FinTech Collective Invests in Ocrolus | We are very excited to announce that we have participated in the Series B for Ocrolus alongside Oak HC/FT, Bullpen Capital, QED Investors, and other existing investors. |
| 11.04.2019 | FTC Co-Leads $11m Investment into Extend | We are very pleased to announce that we have co-led the Series-A for Extend alongside Point72 Ventures and with participation from Reciprocal Ventures and strategic partner City National Bank (an affiliate of RBC). |
| 11.04.2019 | Embroker Raises $28m Series-B from Tola Capital | Huge congrats to FTC I portfolio company Embroker on their $28m Series-B raise from smart money, Seattle-based investor, Tola Capital. |
| 02.04.2019 | Goldman Sachs Leads $30m Series B in Vestwell | Congratulations to FTC II CEO Aaron Schumm and the entire Vestwell team on raising a $30m Series B financing led by Goldman Sachs PSI group, Point72 Ventures, and asset managers Allianz, BNY Mellon, Franklin Templeton, and Nationwide. |
| 05.03.2019 | FTC Theme | DeFi Is a Continuum | Decentralized finance, otherwise known as DeFi, sits at the intersection of financial products and services with decentralized networks and open protocols. The implications of DeFi will be pronounced across both developed and emerging marke... |
| 05.03.2019 | FTC Alert | A Banker and a Gambler Walk into a Bar... | Three and a half years ago, we brought Sean Lippel onto our team as a Summer Associate. |
| 16.01.2019 | Flutterwave and Visa Partner on Consumer Payments App Barter | Fintech startup Flutterwave has partnered with Visa to launch a consumer payment product for Africa called GetBarter. |
| 15.01.2019 | Contabilizei Raises $20 Million to Ease Brazilians’ Tax Pain | Online tax filing and accounting service Contabilizei has raised $20 million in a new round of financing led by Point72 Ventures, the early-stage investment arm associated with hedge fund guru Steven Cohen’s Point72 Asset Management. |
| 08.01.2019 | FTC Alert | Quovo Acquired By Plaid | We are very pleased to share that Fund I and Fund II portfolio company Quovo is being acquired by Plaid in a deal that the press are reporting is $200m.
FinTech Collective seeded Quovo in April 2014, led the Series-A in July 2015 and has pa... |
| 01.01.2019 | Flutterwave's 2018 Year in Review | 2018 was quite a remarkable year for us at Flutterwave Inc. |
| 19.12.2018 | PwC and Sigma Ratings Collaborate to Help Highlight Financial Crime Compliance | PwC and Sigma Ratings, Inc. today announced the launch of a strategic relationship to bring innovative risk management services to companies around the world. Together, PwC and Sigma Ratings are positioned to help companies differentiate, b... |
| 06.12.2018 | Watt it Takes: The Origin Story of Wunder Capital | This week on Watt It Takes: Wunder Capital CEO Bryan Birsic on why he wants to solve the commercial solar financing challenge, when so many others couldn't. |
| 05.12.2018 | Vestwell Inks a Deal With BNY Mellon | Bank of New York Mellon and Vestwell are entering a partnership that will give the bank a technological boost as it embarks on a foray into service offerings for state-sponsored retirement plans. The bank signed Vestwell as an affiliate, me... |
| 09.11.2018 | Goldman Sachs Honors Axoni Co-founders For Entrepreneurship | Axoni announced today that its co-founders Greg Schvey, CEO, and Jeff Schvey, CTO, have been recognized as two of the 100 Most Intriguing Entrepreneurs of 2018 by Goldman Sachs at its Builders + Innovators Summit in Santa Barbara, Californi... |
| 08.11.2018 | MoneyLion and Team Penske 2019 Partnership | MoneyLion, America’s most powerful financial membership, today announces an enhanced multi-year partnership with Team Penske, beginning with the 2019 NASCAR season. In celebration, MoneyLion and Team Penske are making the NASCAR experience ... |
| 08.11.2018 | Artivest: Removing much of the Headache of Alts Investing | The CEO of Artivest said in an interview that building his firm’s digital alternative investment platform wasn’t “rocket science” but it does remove “much of the headache” for advisors of investing in alternatives—including private equity, ... |
| 06.11.2018 | DTCC and 15 global banks enter testing with AxLang by Axoni | The Depository Trust & Clearing Corporation (DTCC) is ploughing ahead with its project to re-platform its credit derivatives Trade Information Warehouse (TIW) on distributed ledger technology and cloud, enlisting 15 of the world's large... |
| 24.10.2018 | Axoni named to Y-Combinator Top 100 | Axoni (W2014) enters YC’s new Top 100 List at #59. The list is ranked by valuation. Link to YC Top 100 |
| 22.10.2018 | MoneyLion Announces Financial Membership | MoneyLion, the innovative financial platform offering consumers a better way to borrow, save, earn and invest, today officially launched America’s most powerful and rewarding financial membership to help people take control of their finance... |
| 19.10.2018 | FTC Alert | Gareth Jones Receives British Leadership Award | St. George’s Society of New York in partnership with the UK’s Department for International Trade has announced that Gareth Jones has been voted to receive the 2018 British Leadership Award at its eighth annual British Bash at Edison Ballroo... |
| 18.10.2018 | Kamal Jafarnia Joins Artivest As General Counsel And Chief Compliance Officer | - |
| 18.10.2018 | Dee Choubey from MoneyLion - Bank on It (Podcast) | In this episode of “Bank on It”, the host John Siracusa chats with Dee Choubey, co-founder & CEO at MoneyLion. |
| 14.10.2018 | Flutterwave Completes Series A Extension, former Visa chairman / CEO joins board | We recently announced our completion of Series A Extension round of financing. The latest round of financing includes investments from Mastercard, CRE Ventures, Fintech Collective, 4DX Ventures, and Raba Capital, among others. Flutterwave h... |
| 09.10.2018 | Bob Werner Joins Sigma Ratings | Sigma Ratings Inc. announced today that Robert "Bob" Werner, former U.S. Department of Treasury official and global compliance executive has joined Sigma Ratings as a senior advisor. |
| 04.10.2018 | MoneyLion Selects Wilshire Associates as Consultant for Upgraded Asset Allocation Offering | Wilshire Associates (“Wilshire”), a leading global, independent investment consulting, investment management, and services firm, today announced its collaboration with MoneyLion, America’s “most powerful financial membership,” to launch a s... |
| 04.10.2018 | Wilshire Associates Has Launched A New Range Of ETF-Based Model Portfolios For Robo-Advisor MoneyLion | New York-based MoneyLion, which was founded in 2013, and has garnered 3M+ clients has partnered with Wilshire to create 4 ranges of 6 risk-based portfolios for the firm, with every portfolio comprised of ETFs. The 4 ranges are: tax qualifie... |
| 25.09.2018 | Vestwell Works with Dimensional Fund Advisors | Vestwell, a digital retirement platform, today announced the addition of a new retirement income tool from Dimensional Fund Advisors (Dimensional), a global investment firm. Dimensional's My Retirement Income Calculator is now fully integra... |
| 20.09.2018 | DTCC Passes TIW Milestone | The Depository Trust & Clearing Corp. has reached a significant milestone in the development of its blockchain-based Trade Information Warehouse. |
| 20.09.2018 | Bank on It Podcast with James Waldinger | Every week the show host John Siracusa talks with amazing fintech leaders and entrepreneurs through conversation uncovers the amazing stories behind them, their creations and the most important topics in fintech. |
| 20.09.2018 | 2018 Retirement Trends Report | Vestwell’s 2018 Retirement Trends Survey highlights key sentiments of advisors and plan sponsors as they relate to selling, adopting, and maintaining plans. |
| 14.09.2018 | MoneyLion roars Into NASCAR Xfinity Series With Team Penske Partnership | MoneyLion, America’s most powerful and rewarding financial membership, announces its partnership with one of the preeminent teams in one of America’s most thrilling sports: Team Penske in the NASCAR Xfinity Series. |
| 06.09.2018 | Axoni Named to LinkedIn Top 50 Startups in US | Financial transformation: Axoni — described as one of the most “prominent startups in enterprise blockchain” — is seeking to transform the infrastructure of financial markets and institutions with its distributed-ledger software. | Global h... |
| 29.08.2018 | MoneyLion Hires Ogilvy Veteran As CMO | MoneyLion, a consumer lending and savings app, has hired an Ogilvy vet to ramp up its marketing efforts as it makes a push into consumer banking. |
| 22.08.2018 | Neighborly Launches Network Accelerator for community broadband | Secure, stable access to information via the internet is the fresh water equivalent of our time: broadband networks are the 21st century bridges between our communities and economic opportunity. |
| 14.08.2018 | Axoni closes Series-B led by Goldman Sachs | Enterprise blockchain startup Axoni has raised $32 million to help it finish moving some of the largest financial infrastructures in the world to technology that interoperates with the ethereum blockchain. |
| 10.08.2018 | Offering A White-Labeled Lending Service In Emerging Markets, Mines Raises $13 Million | Congratulations to portfolio company, Mines, and CEO Ekechi Nwokah on raising a $13m Series A led by TPG's Rise Fund, with participation from Velocity Capital and other investors. Mines will bring consumer lending to emerging markets, findi... |
| 08.08.2018 | Embroker Launches Direct-to-Customer Online D&O Policy | Embroker, a digital commercial insurance brokerage, has launched a fully digital directors and officers (D&O) insurance policy, specifically designed for venture capital (VC) backed tech startups. |
| 07.08.2018 | Let's Restart the Hidden Economic Engine
Falling Short
What’s Possible
Inflection Point | Public finance was designed to serve community visionaries — the builders who sought better lives for themselves, their communities and future generations. Financing more than two centuries of impactful public projects — schools, parks, lib... |
| 30.07.2018 | New Rating Agency Ranks EM Banks By Financial Crime Risk
Impressive
Benchmark | A former US Treasury official and a corporate lawyer are launching a rating agency that will rank banks in emerging markets based on their corporate governance and exposure to financial crime. Sigma Ratings, which is due to go live later th... |
| 19.07.2018 | Digitizing the 21st-Century Prison | This month, inmates in more than 100 American penal institutions will begin receiving federal financial aid for higher education for the first time in more than two decades. |