This Week in Fintech (5/22)

This Week in Fintech (5/22)

Hello Fintech Friends,

Question for everyone: What do you think is the most under-the-radar revolutionary fintech product being built today that will blow up over the next 10 years? Let us know on Twitter!

Please find another week of fintech exits below.

Sponsored Content

The bad news: financial organizations were fined $2.7 billion in 2021 for not complying with AML regulations. The good news: AML compliance is probably easier and cheaper than you’d expect. At Persona, we help companies like Square, BlockFi, and Brex meet compliance standards by helping them understand who their users are — and we offer the first 500 verifications for free each month. Get started for free.

Want to sponsor a newsletter? See our sponsorship information here.

If you’re looking to hire from a group of 10,000+ smart, motivated fintech professionals, come pick up a Collective Pass and post a job here.

If you’re looking for your next adventure at one of the best fintech companies, check out the open roles here and sign up to be matched with Fintech companies here!

☯️ Exits

💻 IPOs & SPACs

  • Celsius Network, a crypto lending and yield platform, is prepping an IPO for its mining subdivision (in rocky times for crypto companies).

🤝 M&A - Fintech

  • Experian will acquire a majority stake in Brazilian data-driven credit assessment tool Mova for $7.9 million.
  • Block Inc subsidiary Square acquired restaurant digital ordering and marketing platform GoParrot.
  • Private equity firm Sagard NewGen acquired trading firm Horizon to move into digital assets.
  • Mortgage audit provider Inco-Check sold a majority stake to private equity firm Narrow Gauge Capital.
  • The London Stock Exchange signed an agreement to acquire market data vendor MayStreet.
  • Kyriba, a treasury management software provider, is looking for a buyer at a $2 billion price tag.
  • Banking software provider Q2 is reportedly weighing multiple buyout offers from private equity, which sent shares up 17%.

🏦 M&A - Bank and FinServ

  • Japanese banking giant SBI Holdings will buy a controlling stake in crypto trading platform BITPoint for $98.6 million.
  • Private equity firm GTCR is weighing a sale of fund administrator Ultimus Fund Solutions that would value it at $2 billion.

Sponsored Content

Conventional ways of detecting fraud aren’t cutting it. The key to denying access to bad actors and preventing account takeovers: implementing strong identity verification both during onboarding and throughout the customer lifecycle. At Persona, we help businesses like Square, BlockFi, and Brex detect, deter, and deny fraud while providing a seamless experience for legitimate users. Start fighting fraud for free today.

Want to sponsor a newsletter? See our sponsorship information here.

🌎 Fintech Around the World

Uganda is clamping down on crypto transactions

Kenyans are protesting plans by tax authority to snoop on their online chats

Stablecoins Receive Queen’s Blessings As UK Braces For Landmark Crypto Legislation

📚 Deeper Reads & Features

Counterattack: Banks’ Field Guide to Fintech Disruption

Big bank, little bank: Why fintech relationships are still rocky

How Wall Street banks made a killing on SPAC craze

Index Ventures' Mark Goldberg sees opportunity in consumer fintech

How to Design and Develop a Mobile App for a Fintech Startup?

Stripe will drink your embedded finance milkshake

How quickly are startup layoffs accelerating?

In conversation with Philip Belamant co-founder Zilch, on launching UK’s double unicorn in US

The IMF’s Global Financial Stability Report

Cat Lets Chipmunk Loose in House in Video With 'Tom and Jerry Vibes'

Have a news item for us? Reach out to