This Week in Fintech (6/12)

This Week in Fintech (6/12)

Hello Fintech Friends,

If you missed them, two new features from the TWIF team that I’m loving are our Policy section and our Overlooked Operators series!

Watch out for our podcast, coming shortly 👀


Please find another week of fintech exits below.

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Overflow News from Friday

ANZ Bank announced paid leave for gender reassignment. NationWide pledged that it will not close any branches until 2024, bucking the bank branch closure trend, and Citibank is adding 3,000 people to its Asia business. Credit Suisse, meanwhile, is delaying its China expansion due to covid zero rules.

Jupiter Money and Onsurity partnered on affordable healthcare for SMBs. Mexico’s Finerio partnered with Ozone API and Visa to build a combined open banking tool for LatAm fintechs. Trulioo improved its proof-of-address and KYC / AML features. Flyfin launched a tax filing tool for freelancers. MoneyGram launched crypto-to-cash on the Stellar network.

Starling’s CEO threatened legal action over the remarks from the UK’s former anti-fraud minister.

☯️ Exits
🤝 M&A - Fintech
  • Pan-African digital payments company MFS Africa acquired US infrastructure company Global Technology Partners for $34 million.
  • Argentinian personal finance platform Ualá acquired neobank Wilobank.
  • Investment manager Abrdn pulled out of a deal to acquire Nucoro’s investing app, and instead invested in Nucoro.
  • Real-time payment software builder ACI Worldwide divested its corporate online banking solutions to One Equity Partners.
  • Small business tech provider Business Warrior acquired fintech SaaS builder Alchemy Technologies.
  • Professional services payment provider AffiniPay acquired MyCase.
🏦 M&A - Bank and FinServ
  • Banco Santander’s UK small business outfit Ebury took a stake in KYC provider LoopingOne.
  • Mercer Advisors continued its acquisition spree, buying Fure Financial Corporation with $260 million assets under management.
  • Investment advisor Lovell Minnick Partners took a stake in financial services firm London & Capital.
  • Bank Citizens Financial completed its acquisition of private investment bank DH Capital LLC.
  • Distressed debt services provider Reorg hired bank Warburg Pincus to explore selling it for $1.5 billion.
  • New York bank State Street denied rumors that it is looking to merge with Credit Suisse.

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🌎 Fintech Around the World

How Two Africans Overcame Bias To Build A Startup Worth Billions

Why Ethiopia’s local fintechs are worried

📚 Deeper Reads & Features

Banks and Tech Giants Are Losing Skilled Staff to Flexible Fintechs

The 10 Biggest Fintech Companies In America 2022

Crypto Bosses Flex Political Muscle With 5,200% Surge in US Giving

The Coming InDAOstrial Revolution

‘Two Kids, a White Picket Fence and a Quarter of a House’: Real Estate Startups Compete to Sell Buyers on the Fractional Lifestyle

Revenge of the Value-Tilted Robo-Advisors

FT Partners’ Monthly Report

On-ramps and Off-ramps: Fintech x DeFi Crossover

With Its IPO On Hold, Chime Should Move Beyond Financial Services

Once-hot fintech sector faces IPO delays and consolidation

Wall Street and the problem of “way too many publicly traded fintechs”

Can buy now, pay later survive the cost of living crisis?

Consumers racking up more debt to pay off BNPL loans

Payment for order flow creates a 'casino effect,' Stash CEO says

Driven round the bend by cashless parking

Squirrel Makes Great Escape Away From Grounds Crew During Baseball Game

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