💸 ServiceTitan's $600M+ IPO, MoneyLion's $1B sale, Brigit's $460M acquisition (TWIF 12/15)

ServiceTitan, a software platform for trades and field services – which includes financial and payment tools for service providers – successfully priced its IPO at $71 per share on December 11th, above its revised range of $65-$67. The offering raised approximately $625 million by selling 8.8 million shares at a $6.3 billion valuation. Initially, ServiceTitan had planned a lower price range of $52-$57, but increasing demand prompted an upward revision. This marks one of the first notable tech IPOs in a few years, as the company targets a growing $1.5 trillion market of trades services across the US, Mexico, and Canada, and drives optimism that the IPO window will reopen in 2025.

GEN, the owner of Norton and LifeLock, expanded its financial wellness offerings by acquiringMoneyLion for a price around $1 billion, integrating its technology to enhance financial services for consumers and businesses, and probably go head-to-head with platforms like Credit Karma.

Upbound Group entered an agreement to acquire Brigit, a consumer lender with 2 million customers, aiming to expand its consumer fintech portfolio and services, for up to $460 million.

Paytmsold its stake in Japan's PayPay, a smartphone payment service for users and merchants,to SoftBank for $279.2 million.

Embedded banking platform Railsr and Equals Group are set to merge in a £283 million deal.

Sixth Street reached a $4 billion agreement to acquire in consumer loans from Affirm, targeting stable cash flows and growth opportunities.

LexisNexis announced plans to acquireIDVerse, enhancing its identity verification capabilities.

ZEDRAacquiredGryphon, a U.S. fund solutions provider to enhance its global financial services offering.

Independent Bank and Enterprise Bancorp are merging in a $562 million deal. Independent, the parent of Rockland Trust, will acquire Enterprise in a cash and stock transaction to expand its presence in northern Massachusetts and southern New Hampshire. The merger, expected to close in the second half of 2025, is projected to enhance Independent’s 2026 earnings while integrating Enterprise's $4.7 billion in assets​.

De La Rue, a UK-based banknote printer, is in talks for a potential stake sale as it seeks to address financial difficulties amid declining cash usage and operational challenges​.

Goldman Sachs is exploring options, including a potential sale, of its ETF Accelerator platform which helps the bank's institutional clients launch their own exchange-traded funds.

Nykredit, a Danish financial institution, plans to acquireSpar Nord Bank in a $3.5 billion deal to solidify its position as a leading mortgage lender and banking group in Denmark​.

Prudential is evaluating options for its asset management business, Eastspring Investments, including a potential sale, as part of a strategic review of its global operations​.

Cooper Parry, a UK-based accountancy firm, announced a majority investment from funds managed by Lee Equity Partners.

Bain Capital is reportedly targeting ASX-listed $2 billion financial services giant Insignia Financial, an Australian wealth management firm, for acquisition as part of its investment strategy in financial services​.

Warburg Pincus is nearing a deal to acquire a minority stake in United Trust Bank, a UK-based lender, to expand its footprint in specialized financial markets.