Hello Fintech Friends,
We're bringing back our international Fintech Trek for it's third year!
Two years ago, 100+ of us traveled to visit Abu Dhabi and Dubai for three days. Last year, we took 200+ fintech enthusiasts to a week-long fintech immersion program in Mexico City.
Where should we head in 2024? Help us vote at thisweekinfintech.com/community

And if you're coming to NY Tech Week next week, come find us in the wild:


Please find another week of fintech exits and deep reads below. (👍👎 Have feedback for us? Let us know!)
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Sponsored Content
Raising debt capital is a crucial requirement for card, lending, and neobank startups, but most fintech operators don’t come from a capital markets background. That’s why Finley and Cross River Bank put together this comprehensive guide to raising debt capital. It outlines the people, processes, and partners you need to assemble to execute a debt capital raise. Download your free copy here.

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📖 Reads of the Week


☯️ Exits
🤝 M&A - Fintech
Japanese information technology and consulting company NTT Data acquired a controlling 58.73% stake in payment services firm GHL Systems for around $154 million.
Papara, a Turkish banking app with 20 million users, will acquireSadaPay, a Pakistani provider of P2P money transfers, debit cards, and payment products with 1 million users and $1.5 billion in annual payment volume.
Talos, a crypto trading software provider which offers a DeFi-access platform, acquiredSkolem, a platform for institutional investors to access DeFi markets – its third acquisition in a year.
insightsoftware, a global provider of reporting, analytics, and performance management solutions, plans to acquireFiplana, a Qlik financial planning and analysis software.
HPS acquired Irish digital banking and payments software company CR2, which operates BankWorld, installed at 90+ banks across more than 50 countries, offering a suite of digital banking, digital wallet and payment products.
Publicly-listed fintech Broadridge Financial SolutionsacquiredAdvisorTarget, a provider of asset management and wealth management firms with data products to help power digital marketing.
🏦 M&A - Bank and FinServ
Dutch bank ABN AMRO will acquire private German bank Hauck Aufhauser Lampe from Chinese conglomerate Fosun International for $730 million.
Bill Ackman is considering taking a stake in his investment firm Pershing Square public this year, valuing the firm at $10 billion.
Spanish bank BBVA is seeeking regulatory approval for a hostile takeover of its $13 billion rival Sabadell, who has rejected multiple advances.
Global bank HSBC transferred ownership of its Russian unit to Expobank for an undisclosed fee to comply with sanctions.
Series A benchmarks - how industries across startups stack up in valuation and round size at Series A.
Only primary rounds used (905 rounds in the last year or so).
AI is at the top of the lists if you separate it out - but of course it shows up in all categories. pic.twitter.com/Nb7ZvKRPTy— Peter Walker (@PeterJ_Walker) May 28, 2024
Younger generations continue to earn higher real wages than every previous generation.
Things just continue to get better despite all the doom and gloom. pic.twitter.com/Fm3ufFBn6i— Crémieux (@cremieuxrecueil) May 27, 2024
.@getVGS now secures more than 70% of all US payment credentials, with over 3 Billion tokens and 30 Billion data calls annually. Serving everyone from the Fortune 100 to rapidly growing startups.
An overnight success... 6 years in the making. ;-) 🚀 pic.twitter.com/aeNVjeTQ3f— Peter (@peter) May 28, 2024
PayPal's Braintree (including Venmo) acquisition for $800M in 2012 is one of the best fintech M&As
Assuming Braintree is ~$500B TPV x ~25bps net take rate = ~$1.3B net revenue. At a 10x NTM multiple, worth $15B
Stripe does ~$3.5B of net revenue, valued at $65B (15x)… https://t.co/cLmUcI6BOS pic.twitter.com/cOE3iSB7Yk— Bruno Werneck de Almeida (@brunoswerneck) May 31, 2024
📺
Sponsored Content
Raising debt capital is a crucial requirement for card, lending, and neobank startups, but most fintech operators don’t come from a capital markets background. That’s why Finley and Cross River Bank put together this comprehensive guide to raising debt capital. It outlines the people, processes, and partners you need to assemble to execute a debt capital raise. Download your free copy here.

Want to sponsor a newsletter? See our sponsorship information here.
🌎 Fintech Around the World
📚 Deeper Reads & Features
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