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.
Rutter is a Universal API for Commerce & Accounting (’Plaid for Commerce’) that makes it easy for fintech companies (like Ramp, Mercury, Airwallex, Parafin) to read and write financial data from e-commerce platforms, marketplaces, accounting systems, and payment processors like Shopify, Amazon, WooCommerce, Quickbooks, Xero, Stripe, Chargify, and 30+ other integrations.
Join us for a panel discussion, Lendflow x Rutter Panel: Modern B2B Fintech Stack with Lendflow CEO, Jon Fry, on Wednesday, November 9, 2022, at 10 AM PT.
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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 Altaacquired 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
📚 Deeper Reads & Features
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