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.

Anup Agarwal

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.


Anup Agarwal is a Managing Director in the Technology Investment Banking group. Anup has significant experience in providing strategic, M&A and capital raising advice to clients across enterprise software, vertical SaaS, and technology-enabled service sectors. He also has deep expertise in Automation, AI and Data & Analytics technologies both for vertical as well as horizontal applications. Anup has advised both public and growth-oriented private companies on numerous strategic and financing transactions, ranging from $25mm to $25bn in size over the last 20 years.

Prior to D.A. Davidson, Anup served as Senior Managing Director at Marlin & Associates, a leading advisor to FinTech and Data & Analytics companies worldwide. Previously, Anup worked in investment banking divisions of Lehman Brothers and Bear Stearns in New York. Early in his career, he was a critical member of a team responsible for building a new technology driven financial services venture.

Anup received his MBA from the Darden School of Business at University of Virginia and holds a MS in Economics and BS in Engineering from BITS, Pilani, India.

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