This Week in Fintech (1/29) (Part 2)

This Week in Fintech (1/29) (Part 2)

Hello Fintech Friends,

As we mentioned, so much happened this week that we had to split our Saturday newsletter into two parts just to fit inboxes…. Here’s the rest!


💰 Venture Funds
  • This Week in Fintech launched a $10 million global early-stage fintech fund.
  • Gilgamesh Ventures launched a $9.5 million fund to invest in Latin American fintech.
☯️ Exits
💻 IPOs & SPACs
  • Neobank Chime is discussing a potential IPO with Goldman Sachs at a $35 to $45 billion valuation.
  • PingPong, a Chinese cross-border merchant payments provider, is exploring a $1 billion Hong Kong IPO.
  • Neobank Shawbrook is in talks with pension funds and private equity firms about a potential IPO or sale at a £2 billion valuation.
  • FG Merger, a SPAC targeting financial services, filed to raise $70 million in IPO.
🤝 M&A - Fintech
  • Swiss bank UBS announced that it will acquire roboadvisor Wealthfront for $1.4 billion.
  • Incubator NFT Investments will buy Pluto Digital for £96 million.
  • Australian buy-now-pay-later provider Zip is exploring a potential takeover of its US rival Sezzle.
  • Wealth and lending platform Envestnet took a stake in female financial advice platform Ellevest.
  • Till Payments, an Australian payment processing business, acquired hospitality payments firm ZIPS.
  • Stripe Terminal will acquire card reader provider BBPOS.
  • CeriFi, a tax training platform, will acquire tax education seminar provider Spidell.
  • Aryza Group announced that it is acquiring Benelux credit management software provider Collenda.
  • HR and payroll provider Paylocity acquired low-code platform Cloudsnap.
  • Wealth management group Verso will acquire Pavis Financial Management.
  • MercadoLibre made strategic investments in crypto provider Mercado Bitcoin and Paxos.
  • SAP announced that it will acquire working capital management solution Taulia.
  • Private equity firms Madison Dearborn Partners, Siris Capital Group and Advent International have made competing offers to acquire international payments provider MoneyGram, after the US blocked its acquisition by China’s Ant Financial.
  • UK defense provider BAE is looking into selling off its financial crime detection platform NetReveal.
  • The UK’s Inflexion is looking into selling off its fuel card provider Radius for £2 billion.
🏦 M&A - Bank and FinServ
  • US bank Fifth Third announced that it will acquire point-of-sale lender Dividend Finance.
  • JP Morgan will acquire 49% of Greek bank-owned digital wallet and Pos provider Viva Wallet.
  • Singapore’s DBS Group will acquire Citigroup's retail finance business in Taiwan.
  • Investors declined Germany’s Aareal Bank’s offer to sell itself for $2.1 billion.
  • Wells Fargo is contemplating a sale of its $1 billion stake in a Hong Kong bank.
  • Private equity firms Bain and CRC are both bidding for UniCredit's leasing business. Meanwhile, Unicredit walked away from its contemplated purchase of a Russian state-owned bank.

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🌎 Fintech Around the World

Malaysia’s Rising BNPL Provider that Overcame the Odds: The Journey of Split

In Africa’s booming startup hubs, the founders have become the funders

📚 Deeper Reads

This Platform Provides The Infrastructure For Opening Up Sophisticated Investing To Regular People

How Financial Technology Is Making It Easier to Donate to Charities

‘I’m heartbroken’: Users mourn the loss of top stolen credit card site

Neobanks say they're unfazed by old guard’s overdraft moves

What Generation Z Wants From Financial Technology

Experian to Allow Consumers to Create Their Own Credit Reports

Interchange is going toward 0.. So what?

OpenOcean and the Quest to Become the CeDeFi Aggregator

Can DeFi and CeFi coexist? Three takeaways from experts panel

Money and Payments: The U.S. Dollar in the Age of Digital Transformation

Long Live ACH

Gatekeeping the gatekeepers: when big techs and fintechs own banks – benefits, risks and policy options

An Open Letter to the Founder Community from Orum

Platform-based business models and financial inclusion

Revenue Based Financing — New Way of Financing Online Businesses

Marqeta: To greenfield or not to greenfield?

Fincog: Banking as a Service

9 Misunderstood Fintech Trends Impacting Retail Banking

4 important steps you should take to boost your financial confidence

100 Monkeys Escape After Truck Crashes on Pennsylvania Highway


Have a news item for us? Reach out to news@thisweekinfintech.com.