National Bank of Canada is acquiring Embark Student, a Toronto-based fintech delivering digital-first education savings and planning services, for an estimated $226 million. Embark serves more than 400,000 beneficiaries and manages over $6 billion in assets, making it one of Canada’s largest direct-to-consumer RESP providers.
Embark chief executive Andrew Lo said joining National Bank will accelerate its mission to make education savings accessible to every Canadian parent. National Bank executive Nancy Paquet said the deal fits its savings and investment advisory strategy, and Embark will keep operating as usual for customers while the bank expands its presence across Canada.
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