Hello Fintech Friends,
Please find another week of fintech exits and deep reads below. (👍👎 Have feedback for us? Let us know!)
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☯️ Exits
🤝 M&A - Fintech
Rwandan / Nigerian fintech PayDay, which has been dealing with payment issues and customer complaints, is looking to sell itself six months after raising a $3 million seed round from Moniepoint.
Prepaid payments provider Recharge announced that it has acquired European digital gift and gaming cards company Starselect.
Impact investing platform Spring Activator acquired diverse investor network Future Capital.
🏦 M&A - Bank and FinServ
Card network and issuer Discover is contemplating a possible sale of its $10.2 billion student loan portfolio.
Italy is considering a potential sale of 15% of state-held bank Banca Monte dei Paschi di Siena. The government nationalized the bank in 2017, injecting €1.6 billion into it after years of turnaround efforts.
A consortium led by investment manager Sixth Street is in the lead to acquireGoldman Sachs’ embattled home improvement lender GreenSky. The transaction would be valued around $500 million; Golman acquired GreenSky for $2.24 billion in stock in 2021.
Asset manager Marathon is bidding on Signature Bank’s $33 billion commercial real estate portfolio.
Explosion in cost of card acceptance for merchants outside top 10. #mrcSantaClara pic.twitter.com/4XjHr3UvkE— Tom Noyes (@noyesclt) September 18, 2023
🌎 Fintech Around the World
📚 Deeper Reads & Features
Uncensored Thoughts on Product Management, [Fin]Tech Markets, and VC as I Look for my Next Adventure
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