This Week in Fintech (6/5)

This Week in Fintech (6/5)

Hello Fintech Friends,

We published the second edition of This Week in Policy on Wednesday; if you’re ever interested in what’s going on at the intersection of fintech, regulations, public policy, and crypto, give it a read and sign up!

Please find another week of fintech exits below.

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☯️ Exits

💻 IPOs & SPACs
  • Freightos, a freight booking and embedded payments platform backed by FedEx, will go public through its merger with Gesher Acquisition SPAC, raising $80 million in the process.
🤝 M&A - Fintech
  • Japanese financial institution SBI bought a piece of crypto provider Digital Asset to create a ‘smart yen’ programmable currency joint venture.
  • Swedish account-to-account payments provider Trustly acquired UK open banking vendor Ecospend.
  • Wealth management provider Envestnet acquired digital retirement plan marketplace
🏦 M&A - Bank and FinServ
  • Financial services institution Franklin Templeton agreed to buy BNY Mellon’s European credit and debt subsidiary, Alcentra, bringing its alternative assets under management to $257 billion.
  • Private equity firm Ardian took a controlling stake in French credit brokerage Odealim.
  • Barclays is nearing a deal to acquire Blackstone’s mortgage lending platform, Kensington.
  • The billionaire Kellner family abandoned plans to conduct a $1.1 billion buyout of Czech bank Moneta.
  • Private banking company Julius Baer is selling Swiss wealth management company Fransad Gestion to its own management team.

🌎 Fintech Around the World

Self-agency is key for venture capital in Francophone Africa

How has Nigeria’s digital currency fared since its launch?

Nigerian banks tap pent-up demand for retail services

Million-dollar blockchain projects have finally come to Africa

Yoco CEO Katlego Maphai on growing a payments business in Africa

📚 Deeper Reads & Features

There is a lot of doom and gloom in the news this week…

Fintech startups are in serious trouble

Tech valuations are down. A16z says fintechs are getting hit hardest.

Which fintechs are likely to be acquired in the downturn?

Banks must act on their early warning systems or risk ROE downturn

Fintech's historic era of hyper growth is over. Here's who stands to struggle as rates rise and investment slows

But it’s not all bad news!

Designing and building compliant credit products

Banks turn to blockchain in search for high-quality trading assets

Green Digital Finance Alliance launches a green fintech taxonomy

The Opportunity For Digital Banking To Foster Financial Inclusion

Consumer Data Bureau?

Capitolis, The Airbnb of Wall Street, Wants to Free Up Trapped Bank Capital

Identity Will Define the Future of Payment Networks (and more)

JPMorgan Summer Reading List arrives in the metaverse

Scientists accidentally discover “scallop discos” as an environmentally friendly fishing method

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