This Week in Fintech (5/15)

This Week in Fintech (5/15)

Hello Fintech Friends,

To the casual observer, different cities and countries seem to get ‘hot’ for fintech development all at once (even if the fintech scene has been growing there for a while).

Which under the radar region will become the next hotspot of fintech innovation?

Please find another week of fintech exits below.

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☯️ Exits
💻 IPOs & SPACs
  • New York’s Hanover Bancorp priced its IPO at $21 a share, at the low end of the $21-23 projected range.
  • Prime Number Acquisition I priced a $60 million SPAC IPO, targeting an embedded fintech company.
🤝 M&A - Fintech
  • UK payments giant Checkout acquired identity verification platform Ubble.
  • Meanwhile, Italian payments giant Nexi acquired Orderbird, a German startup that provides point of sale products and related services for restaurants and other hospitality businesses, for $150 million.
  • UK open banking provider Yapily announced the acquisition of finAPI, a competitor that will allow it to grow its market share in Germany.
  • The UK arm of India's HCL Technologies acquired Swiss digital banking and wealth management consulting specialist Confinale.
  • Santander-backed corporate banking services provider Ebury will buy Brazil’s Bexs Banco (foreign exchange) and Bexs Pay (payments).
  • Trading solutions provider Exegy acquired competitor Enyx.
  • Private equity firms are eyeing bids for Swiss core banking provider Temenos.
🏦 M&A - Bank and FinServ
  • Bank conglomerate KeyCorp acquired GradFin, a platform to help students manage their debt.
  • Florida investment bank Hyde Park acquired rival Cavu.
  • The Intercontinental Exchange sold $8 billion of bonds to finance its acquisition of Black Knight.
  • Brazil’s Itau Bank denied rumors it was looking to sell brokerage XP to Charles Schwab.

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🌎 Fintech Around the World

Africa accounts for 70% of the world’s $1 trillion mobile money market

Will bitcoin succeed in the Central African Republic? Probably not

Why Nigeria’s biggest telecom companies are getting banking licenses

Inevitable conversations on Nigeria’s economy (h/t Hayden Simmons)

Cómo Rappi cataliza un ecosistema

📚 Deeper Reads & Features

Global Banks Flee the Monster SPAC Market They Helped Create

Thoughts around Virtual Accounts and how they can power B2B Fintechs and Corporate Banking

'Buy now, pay later' is sending the TikTok generation spiraling into debt, popularized by San Francisco tech firms

Neo Tax: Disrupting Hell Week For Accountants and Small Businesses

Tether Reserves: at it again

Stripe is playing checkers with Plaid

Techstars-backed Solo Funds Sued for Unlicensed Lending, Deceiving on "Tips," 4,280% APR

How embedded insurance is shaping the future of fintech

How to Do Digital Transformation the Right Way With FinTech

Why Medieval Artists Doodled Killer Bunnies in Their Manuscript Margins

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