Another tax software provider gets snapped up for $720 million (TWIF 11/6)

Another tax software provider gets snapped up for $720 million (TWIF 11/6)

Hello Fintech Friends,

What do people think the first order of business will be at the OCC’s new Office of Financial Technology?

Help us nominate our 2022 Fintech Formal Awards winners below:

Please find another week of fintech exits and deep reads below.


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☯️ Exits
🤝 M&A - Fintech
  • Retail-focused buy-now-pay-later provider Ampla* (disclosure: a Fintech Fund portfolio company) acquired consumer brand payment plan provider Upside Financing.
  • Private equity firm Cinven acquired UK tax planning software builder TaxAct for $720 million.
  • Cannabis banking provider Safe Harbor Financial announced its acquisition of cannabis fintech platform Abaca for $30 million.
  • Singaporean alternative assets investing platform Alta acquired digital securities exchange Hg Exchange.
  • Amberdata, which provides datastreams on digital assets, acquired crypto analytics company Genesis Volatility.
  • PCI-validated payment credential encryption provider Bluefin acquired omnichannel payment solution TECS Payment Systems.
  • Crypto exchange Bakkt will acquire rival Apex Crypto in a deal worth around $200 million.
🏦 M&A - Bank and FinServ
  • Citigroup agreed to sell its portfolio of Russian personal installment loans to commercial bank Uralsib.
  • Australian wealth management firm Perpetual rebuffed an $A1.7 billion takeover offer from private equity.
  • TIAA is selling its bank, TIAA Bank, to a group of private investors so it can focus on its retirement and asset management businesses.

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🌎 Fintech Around the World

EY Census - FinTech Australia

Euro Banking Association publishes fraud taxonomy

This Y Combinator-backed fintech startup* aims to be the Amazon Pay of the Middle East

FinTech in ASEAN 2022: Finance, reimagined

Small Businesses in Canada Looking at Banks for Advice to Weather Challenging Economy

📚 Deeper Reads & Features

Institutional DeFi: The Next Generation of Finance?

Capital & Taste

Net zero could lead to ‘the largest redeployment of capital in history’

Not So Fast, Gen Z: Millennials Lead the US for Fintech Adoption

The Sunak Protocol: The New Prime Minister’s Vision For Crypto And Digital Finance In The UK

Debunking the narratives about cryptocurrency and financial inclusion

From failed startups to a successful digital wallet, Sarah Toukan has ridden the troughs and the crests

Sardine: Fintech’s Great Detective

Emotional support alligator helps man with deep depression


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