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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📖 Read of the Week

"Walmart has long sought to become a financial powerhouse. But after it acquired a neobank called One in 2022, fraud complaints multiplied and customer reviews cratered."

"From a startup accelerator to funding startups and even investing in telecom companies, Visa and Mastercard are steadily increasing their presence on the African continent."

And A tale of two stablecoins: PayPal USD's market cap compared to that of Ethena USDe, a stablecoin which allows users to stake their holdings.

☯️ Exits

🤝 M&A - Fintech

  • The UK's Anna.Money acquiredCape, an Australian corporate expense management platform.

  • Levenue, Europe’s largest revenue-based financing provider, acquiredMidFunder, a Swiss competitor.

  • Private equity firm GTCR sold off patient and consumer engagement and payment provider RevSpring to healthcare fund Frazier Healthcare Partners.

  • Bank-to-bank payment provider GoCardless agreed to acquireNuapay, an open banking payment platform.

  • Trade settlement and execution platform Apex acquiredAdvisorArch, a portfolio management company and modern rebalancer for financial advisors.

  • Intuit acquired the intellectual property and hired the team from automated revenue reconciliation and financial operations platform Proper Finance.

  • PublicSq, a publicly-traded sales marketplace that promotes retailers with conservative values, acquiredCredova, a buy-now-pay-later provider for shooting sports and firearms sales, which last year had $15 million in revenue.

  • Amadeus, a travel and tourism tech provider, acquiredVoxel, a B2B payments solution provider for the travel sector.

  • Request Finance, a French platform that enables Web3 companies and freelancers to receive, send and convert cryptocurrency payments, acquiredConsola Finance, an Austrian cryptocurrency accounting platform.

  • Nordic Capital is weighing a sale of German regulatory software firm Regnology, in a deal which could value the business at up to €3 billion.

🏦 M&A - Bank and FinServ

  • The Polish financial regulator is selling VeloBank, Poland's tenth biggest bank by assets, and private equity firm Cerberus is the frontrunner to pick it up.

  • National Bank of Canada is exploring options including a sale of Cambodia's ABA Bank, which could be valued at more than $2 billion.

*big news* I AM COMING BACK TO FINTECH 🌟🩷

at @crypto, we’re expanding to also cover payments, fintech & digital commerce. so if you remember me from my fintech nerd days of 2017-21, hit me up! i want all your coffee/drinks/lunch/dinner/party reqs and recs 😎— Emily Nicolle (@emilyjnicolle) March 11, 2024

76% of Shopify revenue came from financial services last year.

Embedded finance is undefeated as the best way to drive for SaaS businesses if they solve adjacent customer problems— Simon Taylor (@sytaylor) March 11, 2024

Wow congrats to the Brex team. Bonds upgraded to AA. Strong execution in a tough market. Reasonable spread. Oversubscribed deal.

The more supply there is, the cheaper cost of financing for everyone :) Keep it coming! pic.twitter.com/PBVseqXv8R— Alex Song (@alexsongis) March 11, 2024

What?! 2023 was Fiserv's $FI 38th consecutive year of double-digit adjusted EPS growth. pic.twitter.com/CRzVWG4Y9k— Jevgenijs Kazanins (@jevgenijs) March 14, 2024

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Big if true.

Just over the last two years @twifintech we’ve seen large deals get done, rounds get filled, acquisitions occur, and even (believe it or not) a literal marriage as a result of the community we’ve built.

This from a long time partner of ours recently: https://t.co/kwDNMqKnXY pic.twitter.com/LbGycWVEcp— Alex (@CallMeGillette) January 24, 2024

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