As of September 1, 2021, we are pleased to be part of D.A. Davidson & Co. We will continue serving our clients as part of their full-service Investment Banking Group. Click here to learn more about our combined strengths.

Aalap Merchant

The Marlin & Associates team is comprised of a group of seasoned professionals who have an unrelenting commitment to maximize value for our clients. Collectively, our team has advised on financial technology, data and analytics transactions in 27 countries around the world. Several M&A partners have held global C-level and senior operating roles in relevant industry sectors. This deep operating experience combined with extensive transaction expertise enables Marlin & Associates to provide an unparalleled level of strategic and financial advice to our clients as well as execution capability in nearly every conceivable situation. 

  • Our Group covers eight tech sectors: Application Software, Infrastructure Software, Vertical Software, Communications Software/Hardware, Internet and Digital Media, Technology-Enabled Services, Data and Analytics, and Financial Technology. Within Financial Technology, we continue covering clients across WealthTech, Payments Tech, InsurTech, BankTech, Real Estate Tech, LegalTech, GRC, Business Intelligence, Market Intelligence, Capital Markets Technology, and Digital Tech including Workflow Automation; 
  • We work closely with D.A. Davidson’s 12 technology research professionals covering more than 130 technology stocks, and a dedicated equity sales and trading team.

 You can read more about the transaction HERE.

 Meet the entire Technology Investment Banking team HERE.


Aalap B. Merchant is a Managing Director in the Technology Investment Banking group. He brings nearly 20 years of experience to D.A. Davidson and has spent the past 14 years providing strategic, M&A and capital raising advice to clients across the FinTech and Financial Institutions sectors. Prior to D.A. Davidson, Aalap served as Senior Managing Director and COO of Marlin & Associates, a leading advisor to FinTech and Data & Analytics companies. He spent his formative years in banking at Nomura Securities, where he led the FinTech group, and at J.P. Morgan, where he covered clients across the Financial Institutions sector.

Aalap has successfully advised on 60+ strategic and financing transactions, ranging from $20mm to $10+bn in size and totaling ~$100bn in transaction value.

Aalap holds an MBA from Emory University, and an undergraduate degree in Accounting and a Master’s degree in Finance from the University of Mumbai. He is a budding investor and has mentored several entrepreneurs in building successful businesses. He is also an avid fan of motorsports, cycling and all things technology.

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