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

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Reads of the Week

A lot of what people think about stablecoins is wrong

Having actually worked in the space for a long time I find all these “experts” mildly annoying.

Strange LoopsKyle Libra

Exits

IPOs & SPACs

• Groww, an Indian investment platform backed by Microsoft CEO Satya Nadella, filed for its IPO. The company is looking to raise ₹10.6 billion (approximately $121 million), positioning itself at up to $9 billion valuation as it aimed to expand its suite of retail investing products across mutual funds, equities, and fixed-income options.
• SumUp, a UK-based fintech that provides payment terminals and digital services to small businesses, is considering going public next year and aiming for a valuation between $10 billion and $15 billion, highlighting its strong European customer base and recent expansion into lending and invoicing solutions.
• Techcom Securities, a Vietnamese brokerage and investment banking arm of Techcombank, raised $410 million via an oversubscribed IPO to scale its retail brokerage, wealth management, and advisory services.
• X3 Acquisition, a blank-check company, filed for a $200 million IPO targeting acquisitions in the financial services sector, with a focus on fintech, wealth management, and specialty finance companies.

M&A - Fintech

• MoonPay, a crypto payments infrastructure provider, acquired Meso, a fintech startup bridging traditional finance and crypto, to accelerate its push toward building a regulated global payments network.
• Nucleus, a British financial advice and investment platform, is preparing for sale amid rising demand for wealth management and consolidation in the UK adviser market. The firm manages more than £100 billion in assets on behalf of 250,000 financial advisers and saw its EBITDA rise 48% to £70.7 million in 2023.
• Thomson Reuters, a global provider of news & information services, acquired Additive, a company specializing in AI-powered tax document processing, to enhance its offerings in automating compliance and tax workflows.
• IG Group, a UK-based trading platform, bought an Australian crypto exchange to extend its exposure to digital assets and broaden its product footprint into cryptocurrency markets.
• FE Fundinfo, a UK financial data and regulatory reporting provider, acquired AlphaOmega, a Luxembourg-based specialist in asset management software, to reinforce its presence in continental Europe and strengthen its data & fund administration capabilities.
• Informativ, a U.S. company focused on fraud prevention, compliance, and credit-technology for the automotive and consumer finance sectors, acquired Carmatic, a Payments-as-a-Service platform that delivers real-time, transaction-ready loan and lease payment offers.
• Sheridan Capital Partners, a private equity investor, invested in National Care Systems, which provides revenue cycle management software to healthcare providers, to support its growth and product development.
• Poppins Payroll, a provider of household payroll services, launched an offering focused on trust, compliance, and ease aimed at simplifying payroll for households.

#moneycode | BVNK

Money is becoming code. Are you ready? BVNK is proud to partner with Money Code - the new podcast where hosts Chuk Okpalugo (Stablecoin Blueprint author) and Raj Parekh (Monad Foundation) cut through the hype to decode stablecoin payments for builders and operators. Our co-founder Chris Harmse joins Chuk and Raj in upcoming episodes to unpack what’s really happening as money moves from mainframes to distributed ledgers. New episodes drop every Thursday. Follow along at moneycode.show #MoneyCode

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