Hello Fintech Friends,
M&A is back! Even as the IPO market swoons, there were $1 trillion in M&A deals in Q1 this year (data from Axios below), with 11 fintech deals in the last week alone.
Will more fintech companies acquire and get acquired, as public markets remain choppy?
Please find another week of fintech exits below.
💻 IPOs & SPACs
- PAG, an Asian private equity firm backed by Blackstone, is the latest investor going public, filing for a $2 billion IPO.
- German bank Oldenburgische Landesbank AG filed for a €1 billion IPO.
- AIG is spinning off its retirement investment business as a public company.
🤝 M&A - Fintech
- Goldman Sachs is expanding its stable of personal financial management fintech acquisitions (after Clarity Money and GreenSky) with its acquisition of roboadvisor NextCapital.
- Coinbase is closing in on acquiring Latin America’s biggest crypto exchange, 2TM.
- Lunar, a Danish neobank valued at $2.2 billion, offered to acquire Norwegian neobank Instabank for €132 million in cash.
- Oxbury Bank, a lender to the agriculture industry, acquired its core provider, Naqoda.
- German exchange Deutsche Börse announced it will acquire fund data manager Kenip.
- Global payroll provider Papaya is set to acquire remittances firm Azimo, to enable instant global payroll.
- Ride-sharing giant Ola will acquire personal financial management app Avail Finance.
- Digital privacy firm Avast acquired Canadian blockchain-based KYC provider SecureKey.
- EQT is weighing the sale of Hollywood payroll firm Cast & Crew.
- Cloud-banking provider Alkami will acquire financial data analytics fim Segmint for $135.5 million in cash.
🏦 M&A - Bank and FinServ
- The Royal Bank of Canada made a $2.1 billion bid for UK wealth manager Brewin Dolphin.
- India’s Axis Bank announced that it will acquire Citigroup’s local retail banking unit for $1.6 billion.
🌎 Fintech Around the World
📚 Deeper Reads
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