Yieldstreet 🤝 Cadre (TWIF 12/3)

PayU, a global payments business primarily operating in India, is planning to IPO it Indian business within the next 12 months. The Indian unit sees revenues of $211 million per year. Its private equity owner, Prosus, recently sold off much of the non-Indian business to Israel’s Rapyd for $610 million.

MobiKwik, an Indian online payments, wealth management, and credit provider, filed for an IPO in Mumbai that could raise about $84 million.

HPS Investment Partners, the private credit firm carved out of JP Morgan in 2016, confidentially filed for an IPO that could value it at $8 billion.

Alternative investing platform Yieldstreet announced that it will acquire real estate investing platform Cadre. The two companies did not disclose the transaction price. Cadre previously raised $133 million and was last valued at $800 million. Cadre says the merger is part of their focus on an eventual IPO: “That’s the motivation, to extend our leadership, to set us up for a successful IPO, to build the best business.”

NomuPay, an Irish payments startup formed from a few business units of the dramatically failed fintech Wirecard, acquiredTotal Processing, a Manchester-based startup that builds payment processing solutions for functions like recurring payments, risk management, PCI compliance and payment integrations. NomuPay will pay $35 million for the acquisition, and says its own valuation is now $135 million.

Warren Buffett’s Berkshire Hathaway sold its entire stake in the parent of Indian mass-market payment provider Paytm for around $165 million, taking a 40% loss on the investment it made 5 years ago.

Global stock trading app WeBull acquired Mexican investment platform Flink in order to enter Latin America. Flink had previously raised $70 million in funding.

White Glove and TouchFuse, two providers of marketing services to financial advisors, agreed to merge.

Luxembourg-based fund administrator Alter Domus is selling a stake of the company that would value it at €4 billion.