Exits & Deep Reads

Banco BPM rejects €11B takeover bid from Unicredit (TWIF 12/1)

Autumn Oaks, George Inness

Hello Fintech Friends,

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

(👍👎 Have feedback for us? Let us know! Find me at @nikmilanovic, @twifintech, and @ndm)

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📖 Reads of the Week

☯️ Exits

💻 IPOs & SPACs

Fintech SPAC FACT II Acquisition Corp announced the pricing of a $175 million IPO.

🤝 M&A - Fintech

StarCompliance expanded its cryptocurrency compliance capabilities through the acquisition of AER Compliance, bolstering its regulatory tech solutions.
SolomonEdwards acquired Dominion Advisory Group, enhancing its expertise in finance, risk management, and compliance consulting.
Regnology acquired the regtech division of Vermeg, strengthening its regulatory technology offerings and expanding its market reach in compliance solutions.

And it just hit $200 billion.

One of the only crypto TVL (market cap) run-ups that's not driven by price speculation; this is what real adoption looks like. https://t.co/i9sFjT2L2q pic.twitter.com/S4sZZihWiW
— Nik (@NikMilanovic) November 30, 2024

🏦 M&A - Bank and FinServ

Moody's acquired Numerated Growth Technologies, a loan origination platform for financial institutions, to enhance its lending technology offerings.
UniCredit launched an €11 billion all-share bid to take over Banco BPM, aiming to consolidate its position in the Italian banking sector, which Banco BPM rejected, citing insufficient valuation and strategic misalignment.
Evelyn Partners sold Smith & Williamson, the professional services division of the one of Britain’s largest wealth managers, to private equity firm Apax Partners for £700 million, streamlining its wealth management portfolio.
Ally Financial is weighing the potential sale of its credit card business to focus on core operations, considering market interest and strategic alignment.
Mubadala Investment Company plans to take Canada’s CI Financial private, leveraging a significant acquisition to strengthen its global investment portfolio.
Edelweiss Group hired Nomura to explore the sale of a stake in its mutual fund unit, seeking to attract strategic investors and drive growth.
D.E. Shaw is seeeking buyers for $400 million worth of Spanish real estate assets as part of its investment repositioning strategy.

It is pretty exceptional how quickly ETH transaction times and costs have dropped in the last year.@brian_armstrong had a good reminder at a recent Goldman conference: text messages used to cost $0.25.

It won't be too long before payments providers will switch to giving the… pic.twitter.com/xnXU34ZMnA
— Nik (@NikMilanovic) November 25, 2024

Revolut has hit 50M customers globally.📈

But it’s not just the scale—it’s how they’re scaling that stands out.
In 2024 alone:

→ +10M users
→ $45B valuation
→ $545M pre-tax profits

Here’s what sets them apart:
— Nik (@NikMilanovic) November 25, 2024

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