This Week in Fintech (4/10)

This Week in Fintech (4/10)

Hello Fintech Friends,

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And while fintech venture rounds are supposedly slowing down, they’re more than made up by the frenetic pace of fintech acquisitions happening. This week alone there were crypto/fintech, fintech/bank, fintech/fintech, and several more acquisitions announced.

Please find another week of fintech exits below.


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☯️ Exits

🤝 M&A - Fintech

  • In the same week that Fast shuts down, Bolt, the other developer of a standalone hosted one-click checkout last valued at $11 billion, acquired crypto payments on ramp Wyre for $1.5 billion. I would not be surprised to see more mergers that blend digital currency and conventional payment methods.
  • Also - crypto payments firm Bitgo renegotiated its $1.2 billion acquisition by Galaxy Digital due to following share prices of the latter.
  • And crypto exchange FTX bought a stake in the Flash Boys exchange IEX
  • Investment research platform Morningstar will acquire data provider Leveraged Commentary & Data.
  • UK consumer credit company JaJa Finance sold itself to KKR and TDR Capital for £120 million.
  • Latam payments platform PayRetailers acquired Chilean rival Paygol and Colombia’s Pago Digital to expand its markets.
  • Global payments firm Worldline paid A$485 million for a controlling stake in ANZ’s merchant acquiring business.
  • The London Stock Exchange Group continued its spate of acquisitions, buying KYC provider Global Data Consortium.
  • Southeast Asian buy-now-pay-later provider FinAccel took a majority stake in Indonesian bank PT Bank Bisnis Internasional.
  • Retirement investing and financial planning firm Millennium Trust acquired health savings account provider Payflex.
  • Indian conversational messaging platform Gupshup acquired Active.ai, a conversational AI platform for banks and fintech companies.
  • Point of sale holding company POS Nation acquired liquor PoS provider Bottle POS.
  • European private equity firm Advent took a controlling stake in payments firm MangoPay.
  • African telco giant MTN is working with JP Morgan to spin out and sell off its fintech unit.
  • Black Knight, a mortgage software provider, is exploring a potential sale.
  • Klarna officially closed its Pricerunner acquisition.

🏦 M&A - Bank and FinServ

  • In this week’s mega-merger, India’s HFDC Bank will acquire Mumbai-based giant Housing Development Finance Corp. for around $60 billion.
  • Private equity firm Bain Capital will acquire a 24.98% stake in India’s IIFL Wealth Management for ₹3,680 crore ($485.6 million).
  • Private equity firms Advent and Centerbridge are nearing a €2 billion deal to buy Germany’s Aereal Bank.
  • Canada’s CI Financial Corp plans to spin out 20% of its US wealth management business in its IPO.
  • Russia’s Sberbank sold its stake in a Croatian retailer to a Hungarian private equity fund.
  • Mastercard completed its acquisition of McDonalds’ personalization service Dynamic Yield.

🌎 Fintech Around the World

Banks need an answer to the pervasiveness of fintech in India

Egypt: Fintech’s Next Big Opportunity

Why Africa’s digital payment landscape is still highly fragmented

Ghana’s frustrated farmers face lending crisis

The Fintech Revolution in Africa’s FX Markets

YC W22 batch nets 24 African startups, including 18 from Nigeria

China’s central bank is leading the way with bold green finance policies

Post-Brexit London Races to Keep Its Head-Start in Fintech

📚 Deeper Reads

Marijuana Fintech Players Are Vying to Replace Cashless ATMs

Americans Were Great About Paying Their Debts in the Pandemic. Don’t Expect It to Last.

Apple – Project Breakout

Senior Democrat warns against tough clampdown on crypto

Barclays: mitigating CBDC fragmentation risk

Facebook owner Meta targets finance with ‘Zuck Bucks’ and creator coins

FinCEN Provides Financial Institutions with Red Flags on Potential Russian Sanctions Evasion Attempts

Jonny Price, VP of Fundraising With Wefunder, Explains the Boom in Community Round Fundraising

How constraints in the gig economy led to SimpliFi payments

These Y Combinator-backed startups want to build the next Brex

Cash App: from Bank to Pop Star

JPMorgan’s Dimon: Competition Between Banks and FinTechs Is ‘Intensifying’

Are fintechs biting off more than they can chew?

Blockchain and financial markets: will computers push out brokers?

As Wall Street banks embrace crypto, high-flying start-ups look to lure top finance talent

Romance Fraud: Love, Lies, and Billions Lost

Authentify – Bank ID Service

Love Triangle Challenges Reign of Japan’s Monkey Queen


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