The great consolidation continues (TWIF 3/31)

Ibotta, which helps brands deliver digital promotions and offers cash-back rewards to consumers on their everyday purchases, plans to go public. Revenue grew 52% year-over-year to $320 million in 2023 while net income margin grew 12%.

British commodities broker Marex Group filed for IPO in the US, and said revenue for 2023 rose to $1.24 billion from $711 million in 2022, while profit after tax for the same period jumped to $141 million from $98.2 million.

US neobank Chime, last valued at $25 billion in 2021, is targeting a 2025 IPO.

American Express Global Business Travel acquired rival CWT, a business travel and meetings manager, for $570 million. The acquisition would grow its customer count from 20,000 to 24,000.

Deserve, the credit card and co-brand issuing platform, is considering different strategic options including a sale, after the company's biggest customer, crypto firm BlockFi, went into bankruptcy. The company was last valued at $500 million in 2021.

Restaurant point of sale provider Lightspeed is considering options including going private so that it can focus more. The company is valued at $2.1 billion.

Embedded Finance, the parent company of formerly bankrupt European banking-as-a-service provider Railsr, proposed a merger with money management solutions provider Equals Group.

ChowNow, an online ordering platform and marketing service for local restaurants, acquiredCuboh, a Y Combinator-backed point-of-sale platform that consolidates all orders from delivery apps into one place.

Private equity firm BharCap acquiredOak Inventory Finance, a commercial lender dedicated to delivering floorplan finance solutions to manufacturers.

Abrigo, a provider of compliance, credit risk, and lending solutions for financial institutions, acquiredTPG Software, a specialist in investment accounting and management solutions.

Private equity firm Bregal Milestone sold its stake in CUBE, an automated regulatory intelligence provider.

Alight sold off its Professional Services Segment and Payroll & Human Capital Management Outsourcing businesses to an affiliate of H.I.G. Capital for $1.2 billion.

Treasury Intelligence Solutions a provider of cloud-native cash management, liquidity and payment solutions, secured a majority growth investment from Marlin Equity Partners.

Media conglomerate Axel Springer is exploring a sale of popular German finance site and trading platform finanzen.net.

Able, a document AI and client engagement provider, was acquired by risk software and analytics company Moody's.

Private equity firm Advent is looking to sell the European identity authentication business of Idemia as part of a breakup plan that will see each of the French biometrics company’s three units being sold separately.

Nigeria's Access Bank plans to acquireNational Bank of Kenya from private equity firm KCB Group.

Nationwide Building Society in the UK confirmed its offer to acquire Virgin Money UK for £2.9 billion.

HSBC completed the sale of its C$13.5 billion Canadian unit, HSBC Bank Canada, to Royal Bank of Canada.