A fintech SPAC and IPO, what is this 2021? (TWIF 6/18)

A wealth management platform and ‘fintech-as-a-service’ technology provider named New Quantum Holdings has found a suitor in SPAC Canna-Global Acquisition Corp and will go public on the Nasdaq at a pro forma enterprise value of $800 million.

CAB Payments, a unified API to route bulk payments to multiple different payments providers, will go public on the London Stock Exchange this year.

Nium, a global real-time payments provider, has said that it will go public in the next two years.

Global stock exchange Nasdaq will make the biggest acquisition in the company’s history, buying Adenza, a provider of software used by banks and brokerages, for $10.5 billion in a cash-and-stock deal.

Financial services giant FIS confirmed that it will acquire Bond, the banking-as-a-service company that previously raised $42 million at a $182 million valuation. The purchase price was undisclosed.

Alfa Financial Software, a UK builder of software for the asset management industry, received several buyout offers at around a $773 million valuation.

Private equity firm Nordic Capital is pursuing an acquisition of banking software provider Temenos for around its $5.4 billion market cap.

MENA payments infrastructure provider NymCardb announced the acquisition of Spotii, a buy-now-pay-later provider in the UAE, Saudi Arabia, and Bahrain.

Engagement banking vendor Backbase acquired UK digital wealth platform Nucoro.

Private equity firm Levine Leichtman took over a portion of control of regulatory software provider Cleversoft.

Financial services interoperability vendors Glue42 and Finsemble have agreed to merge, creating a new company called Interop.

Wealthtech consulting company F2 Strategy acquired its rival consulting provider Oakbrook Solutions.

Online payroll, benefits, and HR provider Trinet hired Morgan Stanley to help it explore a potential sale at a $7 billion price point.

Optasia, a UAE provider of credit decisioning software, hired Moelis to help it explore a potential sale.

Crypto payment processor BCB Group terminated its deal to acquire 100 year-old German bank Sutor Bank, citing regulatory headwinds.

Asset management giant Blackrockannounced that it was acquiring a minority stake in small business 401(k) provider Human Interest. While the price was not disclosed, the company has raised $500 million to-date.

Private equity firm Bain Capital will sell a stake worth $267 million in India's Axis Bank.

Numerous private equity firms are circlingGoldman Sachs’ acquired fintech lender Greensky, reportedly looking at a purchase that would result in a $500 million writedown for the investment bank.

Customers Bancorp agreed to acquire a $631 million. venture banking loan portfolio from the FDIC.