Fintech Spring gets going with $2.52B+ in acquisitions (TWIF 1/19)

eToro, a retail trading platform founded in 2007, confidentially submitted filings to the SEC for an initial public offering in New York, aiming for a valuation exceeding $5 billion. The company enables users to trade assets such as stocks and cryptocurrencies and manages approximately $11.3 billion in customer assets across 3 million accounts. This move follows a previous attempt to go public in 2021 through a $10.4 billion merger with a special-purpose acquisition company, which was terminated in 2022 due to unfavorable market conditions.

$1.5B: Publicly traded investment accounting provider Clearwater Analytics agreed to acquire Enfusion, a SaaS provider for hedge funds and investment managers, in a cash-and-stock deal valued at $1.5 billion. Enfusion shareholders will receive $11.25 per share, which includes $5.85 in cash and $5.45 in Clearwater stock for each share they own. Clearwater expects to pay around $760 million in cash.

$385M: Dubai's Mashreq Bankcompleted the sale of a majority stake in NeoPay, its point-of-sale (POS) software, inventory management tools, and card processing subsidiary, for $385 million to Dgpays.

$175M: Crypto on/off-ramp providerMoonPaypurchased crypto payments startup Helio for $175 million to expand its infrastructure.

£160M: UK derivatives trading platform IG Groupacquired neobroker Freetrade and its 720,000 customers and £2.5bn in assets for £160 million, marking a strategic pivot to the UK market.

$150M: Amazonagreed to purchase Indian fintech Axio, a buy-now-pay-later provider, for over $150 million as part of its credit expansion efforts.

$150M: Blockchain analytics and anti-crim platform Chainalysisacquired Israeli fraud detection startup Alterya for $150 million.

UK cash printer De La Ruereceived a conditional cash offer of £1.25 a share, signaling potential acquisition talks.

Jared Kushner’s Affinity Partnersreceived approval to buy an additional 4.95% stake in financial services firm Phoenix from Centerbridge Partners and Gallatin Point Capital.

AccountsIQacquiredExpenseIn to enhance its financial offerings.

Stone Goff Partnersacquired the licensing assets of Approved through FS Vector.

Investcorpacquired Italian alternative payments enabler Epipoli.

Airwallexexpanded into Latin America by acquiring MexPago and securing a Brazil license.

Intelligent Lendingpurchased credit comparison platform TotallyMoney.

ProveacquiredPortabl to offer reusable digital identity solutions.

Bank Alfalahacquired a stake in UAE-based fintech Jingle Pay.

Financial scoring provider Moody’sagreed to acquire Cape Analytics, which develops geospatial AI for insurance providers.

insightsoftwareacquiredJust Perform to boost financial and operational planning capabilities.

Eburyacquired Lithuania-based ArcaPay to accelerate its international expansion.

New Mountain Capitalagreed to acquire Machinify, a provider of AI-powered software transforming healthcare payments, and merge it with its healthcare intelligence and payment platform.

Suvoda and Greenphiremerged to create a unified technology platform for clinical trial payments.

Bain Capitalsweetened its bid for Australia's Insignia Financial to nearly $18 billion in a takeover effort.

TransUnionagreed to acquire Trans Union de México in a $560 million deal to expand its international operations.

Carlyle Groupengaged bankers to explore a potential sale of UK-based fund network Calastone.

CC Capitalraised its offer for Insignia Financial, surpassing Bain Capital's earlier bid in the ongoing takeover contest.