Hello Fintech Friends,
Heading to the bay area for TechCrunch Disrupt 2023? So are we!
Join TWIF and the teams at i80 Group, Core Innovation Capital, Pacific Western Bank, and Method for fintech happy hour with Nik and Cristina. Register here.
All ticket proceeds go to charity.
Please find another week of fintech exits and deep reads below. (👍👎 Have feedback for us? Let us know!)
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📖 Read of the Week
☯️ Exits
🤝 M&A - Fintech
The Commonwealth Bank of Australia entered an agreement to acquire cloud-based invoice lending platform Waddle, with whom it has a current partnership.
Stori, the Mexican provider of “a credit card for everyone,” will acquire fintech MasCaja in order to get a banking license.
Clear Junction, a cross-border payments provider, acquiredAltalix, a UK-based fiat-to-crypto gateway solution.
Dubai bank Emirates NBD took a stake in Swiss trade finance and treasury network Komgo.
🏦 M&A - Bank and FinServ
Australian consumer lender Pepper Money signed an agreement to acquire HSBC’s NZ$1.4 billion mortgage portfolio in New Zealand.
The Ontario Teachers’ Fund agreed to acquire UK wealth manager 7IM from Caledonia Investments for £450 million.
UBS is looking to reopen talks with private equity firms for Credit Suisse’s securitized products business.
Barclays Bank is looking into selling off its $2.5 billion UK payments business.
A tiny technical change that will reshape payments:
Visa allows banks and payment companies can pay each other with Stablecoins.
This will make dollars lower cost, lower risk and 24/7.
How? 👇
📰 Visa is making USDC Stablecoin settlement available on the fast and cheap… pic.twitter.com/7bYUrISBvp— Simon Taylor (@sytaylor) September 5, 2023
There has been some talk on here about idea recycling in fintech, and it's a fair point.
There *are* some interesting, new products being built, but there are also a lot of the same companies being pitched that have been tried again, and again, and again, and again...
(eg:…— Nik (@NikMilanovic) September 7, 2023
Nobody will hear this but in Brazil the launch of PIX has been a huge growth driver for $V $MA 🐐 https://t.co/GET34V9mC3— Jerry Capital (@JerryCap) September 7, 2023
A top VC’s @a16z healthcare investment thesis is in FINTECH and not HEALTHCARE DELIVERY.
Pretty telling about the state of 🇺🇸 healthcare, isn't it?
10 years ago when I started in Digital Health, almost everyone was working to build a better healthcare delivery system.
Using…— Joshua Liu (@joshuapliu) September 5, 2023
🌎 Fintech Around the World
📚 Deeper Reads & Features
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