This Week in Fintech (5/8)

This Week in Fintech (5/8)

Hello Fintech Friends,

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Please find another week of fintech exits below.

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☯️ Exits

  • Neobank Revolut ruled out going public in 2022 amid the IPO slowdown.

🤝 M&A - Fintech

  • ICE, the parent of the New York Stock Exchange, announced that it will buy mortgage lending software provider Black Knight for $16 billion.
  • Truist, the 6th-largest bank in the US with $488 billion in assets, acquired Long Game, a 12-person team building a gamified financial mobile app for younger consumers.
  • Coinbase ended talks to buy Mercado Bitcoin, a $2 billion Brazilian crypto exchange.
  • Dutch neobank Bunq announced that it will acquire group expense management mobile app Tricount.
  • Private equity firm Fourshore Partners acquired lender Celtic Capital.

🏦 M&A - Bank and FinServ

  • Itau Unibanco, a Brazilian bank, announced that it will acquire an 11% stake in Brazilian brokerage XP for $1.6 billion.
  • Financial conglomerate LPL Financial will acquire People’s United Bank to add to its brokerage and advisory platform.
  • Investor services provider IQ-EQ acquired Irish fund management business Davy Global Fund Management.
  • First Century Bank walked away from its planned merger with First Internet Bank.

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🌎 Fintech Around the World

Zimbabwe cracks down on mobile money to discourage US dollar uptake

Inflation Forces Budget-Squeezed Americans to Ask Family and Friends for Loans

Why Fintechs Supporting SMBs Are Crucial To The LatAm Economy

When Sri Lanka’s crisis exploded, some were ready with generators and cryptocurrencies

📚 Deeper Reads & Features

Flash Boys 2.0: Frontrunning, Transaction Reordering, and Consensus Instability in Decentralized Exchanges

Inside the scandal at Flutterwave, Nigeria’s fintech champion

Mega-unicorn Stripe is mulling an IPO. The $95 billion company's listing would be a big deal.

Use of CFPB's "Dormant" Authority May Mean More Name & Shame

Fintech sector’s overreliance on chatbots is a mistake

How Lydia wants to make payments more personal and social

MercadoLibre aims to ‘democratize finance’ with payments app

Inclusive fintech is hard to do right, so Line has a different direction

Could Web3 be backwardly compatible with Fiat?

Gemini’s global state of crypto report

Secure Remote Commerce – May 2022

Celo: Building a Regenerative Economy

Three VCs explain what it will take for fintech startups to survive in the face of plummeting valuations

Systemic risks of cryptocurrency adoption by traditional finance according to crypto institutions

Buy-now-pay-later is driving Gen Z into debt

The $7 Trillion Embedded Finance And BaaS Gold Rush

Why Gig Economy Has Become a New Trend in Fintech

Say hello to Klarna’s little brother — B2B BNPL

Kicking off Squirrel Week 2022 with some squirrels in the news

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