Patriot Financial Partners completed the acquisition of a 8% stake in NewtekOne for $20m.

Patriot Financial Partners, a private equity firm, completed the acquisition of a 8% stake in NewtekOne, a financial holding company, for $20m. “Patriot is excited to invest in NewtekOne and to be joining the Board of Newtek Bank. NewtekOne has a 20-year track record of successfully helping small and mid-sized businesses. NewtekOne’s technology, business services, and lending products are unique in the marketplace and tailored to help SMBs grow and succeed. NewtekOne’s conversion to a financial holding company and the launching of Newtek Bank should further strengthen NewtekOne’s ability to fully serve SMBs through treasury and cash management products. We look forward to working with NewtekOne to advance their strategy,” Kirk Wycoff, Patriot Financial Partners Founder and Managing Partner.