Hello Fintech Friends,
We’re looking for someone who is passionate about fintech to run our social media. We need to shake up our Twitter, Instagram, and LinkedIn with real-time fintech news (and spicy takes), to give people updates as they happen - without waiting a week for the newsletter. If you’d be interested in joining us to do this part-time, let us know.
Please find another week of fintech financings and exits below.
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💸 Venture Financing
- CME Group, one of the largest American exchanges, will receive $1 billion in investment from Google (where I work), alongside a cloud computing deal.
- Mynt, the Filipino developer of the country’s popular GCash payment app, raised $300 million at a $2 billion valuation.
- Honeybook, a financial management platform for freelancers and solo entrepreneurs, raised a $250 million Series E.
- Plate IQ, an accounts payable and payments automation platform for the hospitality industry, raised a $160 million Series B.
- Chipper Cash, the Nigerian payments platform, raised a $150 million Series C extension from FTX at a $2 billion valuation.
- Moonfare, a German platform exposing private equity investing to retail investors, raised a $125 million Series C.
- Prepaid Technologies, an Alabama maker of prepaid digital payment solutions, raised $96 million.
- Fi, an Indian neobank, raised a $50 million Series B.
- Valon, a residential mortgage loan servicing platform, raised $43.9 million.
- Fintual, a Chilean asset management platform, raised $39 million.
- Laika, a compliance solution for financial institutions, raised a $35 million Series B from investors including JP Morgan and PayPal.
- Neuro-ID, an anti transaction fraud platform, raised a $35 million Series B.
- Float, a Canadian corporate card provider, raised a CAD$37 million Series A.
- First AML, a New Zealand anti-money laundering service, raised a $21 million Series B.
- GeoWealth, an asset management platform, raised a $19 million Series B.
- Autochek, an auto financing platform based out of Nigeria, raised a $13.1 million seed round.
- Tarabut Gateway, a Dubai and MENA-focused open banking platform, raised a $12 million pre-Series A.
- Checkbook, an online push-payments processor, raised a $10 million Series A.
- Stitch, a South African financial services API, extended its seed round to $6 million as it expanded to Nigeria.
- Nimbla, an invoicing insurance platform, raised £5.1 million from investors including Barclays Bank.
- RightRev, a cloud-based finance and accounting solutions provider, raised $5 million.
- Accrue Savings, a merchant-embedded savings app, raised $4.7 million.
- Quartr, a Swedish investor relations startup, raised $4.5 million.
- Payhippo, a Nigerian small business lender, raised a $3 million seed round.
- Lemonade Finance, a Nigerian remittances app, raised a $725,000 pre-seed.
- CashInvoice, an Indian supply chain working capital platform, raised money from Accion Venture Lab.
- Leslie, a QR code restaurant payment app, raised a seed round.
- Karta, a “gift card disruptor,” raised funds from Australia’s Commonwealth Bank.
- Indian payments platform Paytm raised $1.1 billion in the country’s largest ever anchor round to an IPO.
- Nerdwallet stock jumped 91% in its IPO debut, giving the company a $2 billion valuation.
- Nubank filed their F1 and the numbers are staggering, with plans to raise up to $3.7 billion (and to open the IPO to retail investors).
- Crypto Blockchain Industries, a French blockchain builder for financial services, listed on the Paris Euronext Growth stock exchange.
- Expense management platform Expensify is looking to raise $280 million in its upcoming IPO at a $2 billion valuation.
- Texas bank Third Coast Bancshares announced the launch of its IPO.
- Real-time market data provider TradeStation Group announced that it will go public through a combination with Quantum FinTech Acquisition Corporation.
- Anthemis Digital Acquisitions I Corp, a fintech-focused SPAC, announced the close of its $230 million IPO.
- AIB Acquisition, a fintech-focused SPAC from the founder of American International Bank, filed for a $75 million IPO.
- Zeus Acquisition lowered its fintech SPAC deal size from $440 million to $300 million.
🤝 M&A - Fintech
- Argentinian personal financial management app Ualá acquired ABC Capital, a Mexican bank.
- Singaporean small business financing platform Validus announced that it will acquire expense management technology provider KlearCard.
- Consultancy Accenture acquired BCS Consulting, a firm with specialties in payments, Open Banking, operational resilience, financial crime and cost optimisation.
- Asset management group abrdn will acquire the subscription-based investment tips platform Finimize.
- Institutional crypto custody and functionality solution provider NYDIG acquired social media micropayments service Bottlepay.
- Danish cloud payments and subscription platform Reepay will acquire its German rival billwerk.
- ShopBack, a Singaporean cash-back service, will acquire buy-now-pay-later lender Hoolah to expand its product suite.
- E-Settlement, a Nigerian consumer financial services provider, announced its acquisition of Ivory Coast’s QuickCash.
- Rectangle Health, a healthcare financial technology provider, was recapitalized by GI Partners.
- Coinbase is acquiring Agara, an Indian ML-enabled user support platform, for $40 million.
- Klarna continued its absolute acquisition spree by buying out PriceRunner, a Nordic shopping comparison site with 3.4 million products from 22,500 retailers in 25 countries.
- Link Administration, an Australian shareholder registry, is considering an A$2.81 billion offer from Carlyle Group.
- 7Ridge, a private equity firm, will acquire Trading Technologies, a derivatives dealing platform.
- Resurgens, a software-focused private equity firm, sold its portfolio company Investment Metrics to Confluence Technologies for $500 million.
- Risk and compliance firm Wolters Kluwer will acquire LicenseLogix, a provider of US business licensing.
- Private equity firm Pretium announced that it will acquire residential real estate lender Anchor Loans.
🏦 M&A - Bank and FinServ
- SoftBank is considering a sale of Fortress, the asset manager it bought for $3 billion in 2017.
- Asset manager Franklin Templeton announced that it is buying private equity investment specialist Lexington Partners for $1.75 billion.
- Metro Bank, a UK retail bank, received a takeover bid from Carlyle Group 31% above its $242 million closing price.
- Thailand’s Siam Commercial Bank announced that it will acquire a controlling stake in Thai bitcoin exchange Bitkub Online Co.
- Cross River Bank is playing different games with its acquisition of lending fintech Betterfin.
- Personal investing platform Vestwell acquired Sumday, a college savings platform, from bank BNY Mellon.
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