Indian and Hong Kong fintech acquisitions heat up (TWIF 11/27)

PhonePe buys ZestMoney for $300 million and Quantifeed buys UK rival Alpima

Indian and Hong Kong fintech acquisitions heat up (TWIF 11/27)

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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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