Could Chime and Brex be getting ready to IPO? (TWIF 3/2)

Corporate spend startup Brex is contemplating a potential IPO coming off a year of cost-cutting, as it targets $500 million in net revenue for 2025.

Chime, the largest US neobank, is also prepping for an IPO: the company grew revenues to $1.7 billion in 2024 and cut losses from $200 million to under $50 million.

Marqeta announced the acquisition of TransactPay, a BIN Sponsorship provider licensed as an E-Money Institution in Europe, also announcing that Mike Milotich will be interim CEO. TPV was $80 billion for the quarter, up 29% year over year.

Digital banking tech provider Alkamiannounced it will acquire bank account opening solution MANTL for $400 million of which $380 million is cash.

Cantaloupe, a U.S. payments firm specializing in unattended retail solutions, is exploring strategic options, including a potential sale.

PAG, an Asia-focused private equity firm, considered selling its $1.2 billion stake in Indian wealthtech co Nuvama.

BSA, a provider of municipal ERP solutions, expanded its leadership by acquiring Boyce Systems, strengthening its presence in Indiana and the Midwest.

CohnReznick, a leading advisory, assurance, and tax firm, secured a strategic growth investment from Apax Funds.

Valsoft Corporation, specializing in acquiring and developing vertical market software businesses, strengthened its financial services portfolio with the acquisition of Digital Currency Systems.

Sedgwick, a global provider of technology-enabled risk, benefits, and integrated business solutions, acquired the legal spend management business from Bottomline.

Embat, a treasury management fintech company, acquired Necto to enhance its financial technology offerings.

Perpetual, an Australian investment management firm, ended talks with KKR over a $1.39 billion asset sale.

Gallant Capital, a private equity firm, completed the acquisition of the government services business of Navient Corporation.

HGGC, a middle-market private equity firm, became the majority investor in Centralis Group.

Dasseti, a provider of data and analytics solutions for asset managers and allocators, strengthened its ESG commitment by acquiring Metric.

Axis Bank, a major Indian financial institution, is considering selling a majority stake in its subsidiary, Axis Finance, valued at approximately $1 billion.

China International Capital Corp (CICC), a state-owned investment bank, planned to merge with China Galaxy Securities, forming China's third-largest brokerage with $193 billion in assets.

Aquiline Capital Partners, a private equity firm specializing in financial services, agreed to acquire the family office services business of SEI Investments, aiming to expand its wealth management offerings.

Japan Post Holdings, a conglomerate offering postal and financial services, planned to sell shares worth approximately $4 billion in Japan Post Bank, reducing its stake below 50% to grant the bank greater operational freedom.