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Please find another week of fintech exits and deep reads below.
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Reads of the Week
Exits
IPOs & SPACs
Brazilin fintech Pics delivered 85% revenue growth and IPO transformation despite earnings miss and fintech pressure, with adjusted net income of R$188.2 million.
Plaid’s* CFO talked this week about the company’s plans, and said it has earned the right to pick its own time to IPO.
Mortgage origination provider Blend is working to turn its business around following sluggish post-IPO performance.
M&A - Fintech
Nigerian banking provider Moniepoint entered the Kenyan market with its Sumac Microfinance Bank acquisition. Moniepoint now holds a 78% stake in Sumac, which provides Kenyan SMEs with deposit accounts, loans, forex, trade finance, and bancassurance services.
Business bankking provider Mercury entered payroll by acquiring Central, an AI-native payroll, benefits, and compliance platform for startups.
M&A - Banks and Financial Institutions
Franklin Templeton, the stock- and bond-fund management institution with $1.7 trillion in assets under management, agreed to acquire 250 Digital, the spinoff from the venture firm CoinFund to expand its cryptocurrency-investing offering.
Scandinavian bank Nordea is looking to fintech acquisitions to help boost its product offering.
