Bagan, Myanmar

Hello Fintech Friends,Sharing a message from our premium content editor, Sophie:

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(btw, if you haven't read it yet, check out Sophie's great writeup, ESG is broken– how to fix it)

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Please find another week of fintech exits and deep reads below.

☯️ Exits

💻 IPOs & SPACs

  • Investment banks are starting to approach UK neobank Monzo over a potential IPO.

  • Reverence Acquisition, a blank-check company chasing a fintech acquisition, withdrew its $300 million IPO.

🤝 M&A - Fintech

  • Indian payments and API provider Cashfree Paymentsannounced its acquisition of one-click checkout provider Zecpe.

  • Wealth management infrastructure provider BetaNXT will acquire investor communications firm Mediant Communications.

  • Quantexa, a risk data provider, will acquire Irish NLP firm Aylien.

  • Noventiq, a cybersecurity firm focused on financial services, finished its acquisition of Saga Group, a comparable firm operating in Serbia, Montenegro, Bosnia and Herzegovina, and North Macedonia.

🏦 M&A - Bank and FinServ

  • Card network Visa is considering an acquisition of Fidelity Information Services, the embattled core provider that recently spun out Worldpay, at a significant premium to its $64 share price - in the $85 to $105 range (which would value it as high as $60 billion).

  • Spain's Banco Sabadell sold an 80% stake in its payments unit Paycomet to Italy’s Nexi for €280 million and signed a 10-year exclusive distribution deal with the firm.

  • Spanish multinational insurance firm MAPFREbought a majority stake in French boutique fund manager La Financière Responsable.

  • Asset manager BlackRock sold its roboadvisor business, FutureAdvisor, to Ritholtz Wealth Management.

  • Private equity firm Clayton, Dubilier & Rice entered an agreement to purchase wealth management conglomerate FOCUS for over $7 billion.

  • Private equity firm Ares Management will acquire a minority stake in fixed-income manager BlueCove.

  • Goldman Sachs is looking to sell its lending unit Greensky, which it acquired in 2021 for $2.24 billion.

  • Australian private equity firm Macquarie is looking into a £5 billion bid for fund manager and insurer M&G.

  • The US FTC is looking to block the proposed $13 billion takeover of mortgage firm Black Knight by exchange operator Intercontinental Exchange.

  • European exchange operator Euronext pulled its $5.8 billion offer to buy fund distribution firm Allfunds.

putting finishing touches on new @tryedgepayments marketing site pic.twitter.com/6qEbWHYDkM— alaxic (@alaxic) February 28, 2023

Don't forget to tip your landlord when paying rent this week— Turner Novak 🍌🧢 (@TurnerNovak) February 27, 2023

🌎 Fintech Around the World

📚 Deeper Reads & Features

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