Hello Fintech Friends,

Happy Sunday - the team at TechCrunch put together a great overview for the weekend of which fintech unicorns (of which there are many) are most likely to go public this year. Read on below.

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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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📖 Reads of the Week

☯️ Exits

💻 IPOs & SPACs

  • TechCrunch provided a roundup this week of the fintech startups that could go public in 2024: Apex at $4.7 billion, Stripe between $50 and $95 billion, Klarna at $6.7 billion, Lendbuzz at $2 billion, Chime at $6.7 billion, Plaid, Rippling / Gusto / Deel, and Brex / Ramp / Navan.

🤝 M&A - Fintech

  • Entrust, a provider of certification and verification services for digital and card payments, will acquire digital identity verification provider Onfido for a price ranging from $400 million to $650 million.

  • International payments provider Worldpay completed its sale from FIS to GTCR.

  • Indian fintech giant Cred, valued at $6.4 billion, will acquire mutual fund and stock investment platform Kuvera in order to move into the wealth management market. Kuvera currently manages $1.4 billion in assets across 300,000 users.

  • Meanwhile, Indian payments provider giant Jio Financial said that it is not in talks to acquire Paytm's digital wallet business, which has suffered due to new RBI regulations.

  • Australian payments infrastructure provider Fat Zebra acquired local open banking technology platform Adatree.

  •  Crypto custodian BitGo acquiredBrassica, an alternative investing infrastructure company. BitGo last raised $100 million at a $1.75 billion valuation.

  • Hiline, a bookkeeping, tax, and CFO provider, acquiredCalculate, an outsourced accounting and finance firm dedicated to supporting emerging companies.

🏦 M&A - Bank and FinServ

  • Barclays Bank in the UK will acquire the retail bank of grocer and supermarket Tesco for £600 million. The deal is expected to close later this year.

  • Amundi, Europe's biggest fund manager, will buy Siwss private markets specialist Alpha Associates, for €350 million – part of a growing trend of investors betting on fast-growing alternative assets.

The tech scene in LA is half “we build a creator economy financing app” and half “we build hypersonic missiles”— Isaac Hasson (@isaachasson) February 6, 2024

Alex Chriss on PayPal $PYPL Q4 2023 earnings call: "...on your question around the tech stack. Look, I'll be transparent. The company has gone through significant growth over the last few years and a lot of acquisitions.

We have not invested enough in creating a single platform.…— Jevgenijs Kazanins (@jevgenijs) February 7, 2024

Despite the growth in online banking, the largest bank in the US is adding to their branch footprint by 20%.

Ppl still tend to bank where there is a branch within 5 miles of their home, even if they rarely use them.

Somehow in 2024 it still makes sense to add branches. https://t.co/NXyK1MTk3l— Sheel Mohnot (@pitdesi) February 6, 2024

accounting tools seem to be the first big battleground for new AI products in fintech pic.twitter.com/YdlFT6C9GG— Nik (@NikMilanovic) February 9, 2024

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📚 Deeper Reads & Features

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