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THE FRONT PAGE OF GLOBAL FINTECH

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up to date on the latest in news opinions, and all things financial technology.

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The Main Edition - Exits & Deep Reads


NEOBANK CONSOLIDATION BEGINS TO PICK UP (TWIF 7/16)

NIK MILANOVIĆ

Jul 16, 2023 3 min
Saint-Louis, Senegal

Hello Fintech Friends,

Please find another week of fintech exits and deep reads below. (👍👎 Have
feedback for us? Let us know!)

--------------------------------------------------------------------------------

> ☯️ Exits

> 💻 IPOs & SPACs

 * British business-to-business cross-border payments firm CAB Payments raised
   £335 million in its London IPO, but its shares slipped in trading.

> 🤝 M&A - Fintech

 * Turkish neobank Papara acquired its Spanish counterpart Rebellion, in a move
   that gives the joint entity a valuation over $1 billion.
 * Similarly, leading UK neobank Monzo is said to be considering an acquisition
   of its Scandinavian counterpart, Lunar.
 * Financial infrastructure giant FIS is mulling a full sale of the troubled
   $18.5 billion Worldpay payments unit that it acquired less than 4 years ago,
   after selling a 45% stake to of its Worldpay Merchant Solutions business to
   private equity funds managed by GTCR.
 * US private equity firm Francisco Partners announced that it will acquire
   financial data provider Macrobond for €700 million.
 * Clear Street, an independent prime broker, announced that it intends to enter
   the futures clearing market with the acquisition of React Consulting
   Services.
 * Private equity firm AnaCap sold its majority stake in Spanish tax collection
   software Gestión Tributaria Territorial to Stirling Square.
 * Workforce management platform When I Work announced that it will acquire Lean
   Financial, a fintech startup offering products built for the flex workforce,
   including on-demand pay.
 * Regtech provider Corlytics acquired compliance mapping software Clausematch,
   its second acquisition of the year after buying regulatory platform SparQ for
   €5 million from ING.
 * Entrata, a multifamily operating system provider, will acquire Rent Dynamics,
   which helps tenants build credit by paying rent.
 * Private capital fund administrator Gen II Fund Services agreed to acquire
   Crestbridge, a European builder of private capital fund administration
   solutions.
 * Fintech consultancy Cornerstone Advisors announced that it will acquire
   BankSmart, a consulting firm specializing in bank operations.
 * Indonesian telecommunications firm Telkom Indonesia is reportedly weighing a
   sale of its mobile payments unit, in a deal that would value the spin-off
   from $100 million to $150 million.
 * Shares of the UK's Alfa Financial Software fell after it was revealed that
   private equity firm EQT does not plan to make a buyout offer.
 * Wealth tech provider Avantax, formerly known as Blucora, is exploring a
   potential sale later this year.
 * Private equity firm Cinven is reportedly considering selling a stake in UK
   wealth manager True Potential as early as next year.



--------------------------------------------------------------------------------

> 🌎 Fintech Around the World

Brazil’s Nubank Is Leaving U.S. Digital Banks In The Dust

Nubank’s CEO explains what the US could learn from LatAm fintech

UK fintechs fear for their future

> 📚 Deeper Reads & Features

FinTech Lending with LowTech Pricing

Banking-as-a-Service (BaaS) 2.0

Growing Weary of Financial Challenges, Bank Customers Reluctantly Turn to Buy
Now, Pay Later

America’s Biggest Banks Are Going to Need More Capital

Building healthier businesses with the ultimate finance operations platform

Let’s kill off the City’s old-fashioned paper fetish once and for all

A deep dive into the tech priorities of the banking industry

Building a winning AI neobank

Bank Executives Share Thoughts on Forthcoming Basel Proposal

Global banks and the transformation illusion slowing progress

With the chip shortage fading, in-car payments gain speed

Unlocking Financial Services for Telcos

10 Ways to Pivot Your Business Using Fintech Technology

The Accountant Shortage Is Showing Up in Financial Statements

NatWest calls for more open banking use cases to drive adoption

Can We Fire Gary Gensler? with Rep. Warren Davidson

Businesses Aim to Harness Generative AI to Shake Up Accounting, Finance

Grayscale Cries Foul Over SEC Approval of a Different Kind of Bitcoin ETF

SVB’s collapse drove 26K customers to Mercury in 4 months

FinTech Partnerships Surge as Insurance Firms Adopt Real-Time Disbursements

Credit Scores Went Up in Pandemic. Now, More Borrowers Are Slipping

When it gets hot, the squirrels start splooting

--------------------------------------------------------------------------------

> Have a news item for us? Reach out to news@thisweekinfintech.com

READ NEXT


PAGAYA RULES EVERYTHING AROUND ME (TWIF 4/23)

Hello Fintech Friends, ⚠️Editor's Note: Because of the double-post from our
publishing software glitch on Friday, I'm combining this week's Saturday and
Sunday posts to avoid cluttering your inbox. What a week for content! First, we
had a great guest post for Signals from Sara Hayden Van Velkinburgh on Why
Nik Milanović Apr 23, 2023


INDIA'S FINTECH EXIT BONANZA! (TWIF 10/15)

Hello Fintech Friends, People who think the growth story in fintech is over are
just not paying enough attention. This week, two new fintech companies - Stash
and PayU - announced their intentions to go public, likely at $1B+ valuations
each, while two Indian fintechs - Slice and CRED -
Nik Milanović Oct 15, 2023


THE SUNDAY POST [CORRECTED] (TWIF 10/8)

Hello Fintech Friends, We are republishing yesterday's newsletter because our
publisher has been having some formatting issues, which scrambled much of the
original Sunday newsletter: The world has also changed since we scheduled our
newsletter and LP emails last week. One of the reasons I love fintech is because
it
Nik Milanović Oct 9, 2023

COMMENTS (0)




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