Green Dot Corporation in its $1.1 billion acquisition by Smith Ventures and CommerceOne

On November 24, 2025, Green Dot Corporation (NYSE: GDOT), a financial technology platform and bank holding company, announced that it has entered into definitive transaction agreements to be acquired by Smith Ventures, a private equity firm specializing in growth equity and control buyouts of technology companies, and CommerceOne Financial Corporation, the parent company of CommerceOne Bank, a full-service commercial and private bank.  Smith Ventures will acquire and privatize Green Dot’s non-bank financial technology business assets and operations, which will continue to operate as an independent and growth-focused fintech and embedded finance company.  CommerceOne will acquire Green Dot Bank, which will serve as the fintech’s exclusive issuing bank pursuant to a long-term commercial agreement.

The innovative, two-part transaction follows a more than six-month review of strategic alternatives and will provide significant cash to Green Dot shareholders upon closing as well as an aggregate 72% ownership stake in the combined, publicly traded CommerceOne holding company.  The implied aggregate transaction value is estimated to be up to $1.1 billion.

Wachtell, Lipton, Rosen & Katz is serving as legal advisor to Green Dot.