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THE FRONT PAGE OF GLOBAL FINTECH

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The the largest fintech community in the world. Subscribe to our newsletter to
stay up to date on the latest in news opinions, and all things financial
technology.

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The Main Edition - Exits & Deep Reads


DEEL ACQUIRES REMOTE WORK STARTUP HOFY FOR $100M+ (TWIF 7/21)

NIK MILANOVIĆ

Jul 21, 2024 5 min
Summer night in Eastern Finland

Hello Fintech Friends,

Signals: the calm before the storm in public fintech companies?
Affirm partners with Apple, Robinhood buys Bitstamp, Coinbase launches Smart
Wallet, and other news from the quiet month of June.
This Week in FintechJevgenijs Kazanins

Apple and HDFC Bank part ways | TWIF 20-07-2024
Hi fintech friends, I’m Osborne, investor in early stage startups. Please enjoy
all the news and updates from the past week in today’s edition. If you feel TWIF
brings you value, please share it with your friends (and maybe suggest they
subscribe too). Subscribe Now 🧐🏆 Posts of the Week
This Week in FintechOsborne Saldanha


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

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📺
Sponsored Content

Raising debt capital is a crucial requirement for card, lending, and neobank
startups, but most fintech operators don’t come from a capital markets
background. That’s why Finley and Cross River Bank put together
this comprehensive guide to raising debt capital. It outlines the people,
processes, and partners you need to assemble to execute a debt capital
raise. Download your free copy here.

Want to sponsor a newsletter? See our sponsorship information here.

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

> 📖 Reads of the Week

⚽️ Fintech + Football: A £100bn+ Open Goal
A deep dive into the big benefits of fintech to the beautiful game, from Open
Banking and card programmes, to SNBL and embedded finance. For Fans, Clubs,
FinOps and more.
Fintech R&R ☕️Jas Shah

Banks, fintechs tackle the complexity of KYB with AI and other tech
First Internet Bank and Nbkc bank are among those exploring ways to automate the
traditionally manual task of verifying business customers.
American BankerMiriam Cross




> ☯️ Exits

> 💻 IPOs & SPACs

 * OneStream, a software provider that develops applications for accounting
   departments, filed to raise $466 million via an IPO on the Nasdaq at a $4.4
   billion valuation.
 * Swedish buy-now-pay-later provider Klarna is reportedly weighing financial
   advisors for its US IPO in the first half of the next year.



> 🤝 M&A - Fintech

 * Global payroll provider Deel acquired Hofy, a British company that helps
   manage office equipment for remote hires, for reportedly over $100 million.
 * Bank-to-bank loan marketplace Capstack acquired Edge Tradeworks, a provider
   of whole-loan trading.
 * Technology and services provider Alight sold off its professional services
   and payroll businesses to an affiliate of HIG Capital, renaming it Strada.
   The sale was valued at $1.2 billion, in the form of upfront payment of $1
   billion in cash and up to $200 million in seller notes.
 * European mobile brokerage company BUX sold off its UK business BUX Financial
   Services to Asseta Holding, the parent company of UAE-based investment firm
   APM Capital.
 * Meridien, an American holdco focused on global payment, CRM and banking
   services, will acquire a 27% stake in London fintech DKK Partners as it
   prepares to list on the New York Stock Exchange.
 * Standard Chartered's digital asset trading arm Zodia Markets acquired the
   Jersey-based OTC trading business of Elwood Technologies.
 * Brokerage Clear Street acquired the Fox River algorithmic trading business of
   brokerage Instinet (which it had acquired 2 years ago from FIS).
 * Publicly-listed Swiss financial software group Temenos is considering a sale
   of its fund management unit Multifonds.



> 🏦 M&A - Bank and FinServ

 * Italian fintech giant ION Group, which has borrowed billions of dollars from
   lenders to pursue acquisitions, finalized its acquisition of Italian asset
   manager Prelios SpA for €1.35 billion.
 * Global private equity firms Carlyle and KKR announced that they will acquire
   a $10.1 billion prime student loan portfolio from credit card network
   Discover.
 * Private equity firm Trivest Partners will acquire corporate restructuring
   expert Province.





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

📺
Sponsored Content

Raising debt capital is a crucial requirement for card, lending, and neobank
startups, but most fintech operators don’t come from a capital markets
background. That’s why Finley and Cross River Bank put together
this comprehensive guide to raising debt capital. It outlines the people,
processes, and partners you need to assemble to execute a debt capital
raise. Download your free copy here.

Want to sponsor a newsletter? See our sponsorship information here.

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



> 🌎 Fintech Around the World

Nigerian fintechs regain top spot with $140m in funding



> 📚 Deeper Reads & Features

Inside Fintech’s Newest Unicorn: A Credit Card Backed By Your Home

Synapse’s collapse has frozen nearly $160M from fintech users — here’s how it
happened

Why the Synapse Bankruptcy Has the Fintech World on Edge

Bank-fintech guidance needs more clarity, FDIC’s McKernan says

Can tokenisation narrow the global trade finance gap?

Even Wall Street bankers’ kids need lessons in financial literacy

Old School FX Traders Are Being Replaced by Algos With Names Like Viper

‘Finfluencers’ Have Davos Set Rethinking Future of Wealth Advice

Top 10 fintech innovations transforming the financial sector

Model who took meerkat to pub refused animal license



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

READ NEXT


BAIN CAPITAL TAKES ENVESTNET PRIVATE FOR $4.5B (TWIF 7/14)

Hello Fintech Friends, We'll be ramping up our Asian events in the second half
of the year, and would love to partner with you if you're building in the
Southeast Asian fintech community! Reach out to osborne@thisweekinfintech.com.
Osborne Saldanha on LinkedIn: Beyond my wildest
Nik Milanović Jul 14, 2024


BLACKROCK MOVES INTO PRIVATE MARKETS WITH $3.2B PREQIN ACQUISITION (TWIF 7/7)

Hello Fintech Friends, There was some pretty interesting corporate development
activity this week - other than the headline acquisition, China's Ant Group is
also acquiring its way into the European market, Indian crypto exchange CoinDCX
will enter the Middle East, and Robinhood deepens its moves into roboadvisory.
Please
Nik Milanović Jul 7, 2024


CHIME ACQUIRES HOURLY PAYMENT PLATFORM SALT LABS FOR $173M (TWIF 6/30)

Hello Fintech Friends, Please find another week of fintech exits and deep reads
below. (👍👎 Have feedback for us? Let us know!) 📺Sponsored Content Raising
debt capital is a crucial requirement for card, lending, and neobank startups,
but most fintech operators don’t come from a capital markets background. That’s
Nik Milanović Jun 30, 2024

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