Indian and Hong Kong fintech acquisitions heat up (TWIF 11/27)
PhonePe buys ZestMoney for $300 million and Quantifeed buys UK rival Alpima

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Please find another week of fintech exits and deep reads below.
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☯️ Exits
🤝 M&A - Fintech
- Indian digital payments juggernaut PhonePe will acquire buy-now-pay-later fintech startup ZestMoney for $200-300 million.
- Hong Kong-based digital wealth management platform Quantifeed acquired its UK rival Alpima, bringing its assets under management to $20 billion.
- Fintech-focused private equity firm Motive Partners entered into an agreement to acquire German fintech venture capital firm embedded/capital.
- UK private equity fund ROX Equity Partners acquired South African fintech provider SilverBridge as a subsidiary of its newly-formed Alula Technologies Group.
- UK commission-free trading app Freetrade is considering selling itself, as it struggles to raise funding above its 2021 £650 million valuation.
🏦 M&A - Bank and FinServ
- Japanese bank MUFG will buy Indonesian and Filipino credit companies for €600 million.
- Aristotle Capital Management came to an agreement to buy life insurance company Pacific Life’s third-party credit asset management firm, Pacific Asset Management.
Sponsored Content
Content: The FinTech Innovation Lab NY is currently accepting applications for their 2023 cohort of FinTech, Insurtech and EnterpriseTech startups. Apply HERE by Dec. 1st.
Want to learn more? Join our Virtual Information Session Monday Nov. 28th and hear from previous alumni & our partners at PFNYC.

🌎 Fintech Around the World
Kenya wants to tax crypto transactions
Accelerating Business Transformation Across The African Startup Ecosystem
FTX processed billions monthly in Africa before going bust
China Set to Fine Ant More Than $1 Billion, Reuters Reports
US Banks Are Tightening Lending Standards, Raising the Risk of a Recession
📚 Deeper Reads & Features
The fall and fall of Peter Thiel-backed right-wing fintech app GloriFi
Is this the death of the DeFi Mullet?
Will FTX-Like Unicorns Be the Next ‘Big Short’?
Let crypto burn: Just say no to legitimacy-inferring regulation
Crypto.com is in big trouble — but the warnings were there
Regulatory challenges are top threat to fintech companies right now
Why Visa and Mastercard have yet to face their Kodak moment
Open (the) Banking (Floodgates)
Guide to Maximizing Interchange Revenue
5 kinds of embedded business lending and financing
Rescue Dogs Treated to Early Thanksgiving Feast
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