Hello Fintech Friends,
Have you checked out our swag store?
Please find another week of fintech exits and deep reads below. (👍👎 Have feedback for us? Let us know!)
📺
Sponsored Content
Raising debt capital is a crucial requirement for card, lending, and neobank startups, but most fintech operators don’t come from a capital markets background. That’s why Finley and Cross River Bank put together this comprehensive guide to raising debt capital. It outlines the people, processes, and partners you need to assemble to execute a debt capital raise. Download your free copy here.
Want to sponsor a newsletter? See our sponsorship information here.
📖 Read of the Week
☯️ Exits
💻 IPOs & SPACs
Is the IPO window back open? Health-care payments software company Waystar priced its IPO at the midpoint of a marketed range to raise $968 million at a market value of $3.6 billion, in one of 2024’s biggest listings so far.
Melar Acquisition I, a SPAC targeting the "emerging finance" sector, filed with the SEC to raise up to $150 million in an IPO.
🤝 M&A - Fintech
Consumer investing platform Robinhood agreed to buy crypto exchange Bitstamp for about $200 million in cash (a 50% drop from its prior valuation), in the platform's continued push into digital assets and crypto markets. Bitstamp holds 50 active licenses and registrations globally, giving Robinhood the ability to quickly compete with other global exchanges.
Customer experience, billing, and payments provider CSG acquirediCheckGateway, a North American ACH and credit card payment processing company, for $17 million.
American home warranty provider Frontdoor entered into an agreement to acquire 2-10 Home Buyers Warranty in an all-cash transaction valued at $585 million.
insightsoftware, a provider of reporting, analytics, and performance management solutions, acquiredFXLoader, a UK provider of automated exchange rate loading software for financial applications.
Commerce platform Shopify acquiredCheckout Blocks, allowing Shopify Plus merchants to make no-code customizations in their checkout to enhance customer experience and potentially boost sales.
Stablecoin provider Tether bought $100 million of shares in Bitcoin miner Bitdeer.
TRANSACT, an annual event in the payments processing industry, was acquired by trade show platform Trifecta Collection from the Electronic Transactions Association.
🏦 M&A - Bank and FinServ
Qatar’s sovereign wealth fund agreed to buy a 10% stake in China Asset Management Co., one of the nation’s largest mutual fund firms, for $490 million.
Preqin, a British provider of data on private markets, is exploring a sale that could value the company at £1 billion, using Goldman Sachs as its advisor.
The US arm of accounting firm Grant Thornton agreed to sell a majority stake to the investment group New Mountain Capital.
Private equity firm JC Flowers completed the sale of Romanian bank First Bank S.A. to Italian banking group Intesa Sanpaolo.
Investment bank Piper Sandler agreed to buy smaller rival Aviditi Advisors.
📺
Sponsored Content
Raising debt capital is a crucial requirement for card, lending, and neobank startups, but most fintech operators don’t come from a capital markets background. That’s why Finley and Cross River Bank put together this comprehensive guide to raising debt capital. It outlines the people, processes, and partners you need to assemble to execute a debt capital raise. Download your free copy here.
Want to sponsor a newsletter? See our sponsorship information here.
🌎 Fintech Around the World
📚 Deeper Reads & Features
Have a news item for us? Reach out to [email protected]
