Hello Fintech Friends,
Calling all LatAm Fintech Readers! If you’re not getting Christine’s weekly overview of all the fintech news from Latin America, you’re missing out: Subscribe here. (And manage which newsletters you’re subscribed to here.)
Also, if you haven’t yet checked it out, our new Policy Edition breaks down the (incredible amount) of fintech regulatory news from the last week.
Please find another week of fintech exits and deep reads below.
💻 IPOs & SPACs
- Treasure Global Inc., an e-commerce platform that includes affiliate rewards and consumer cash-back options, plans to raise $15 million in an upcoming IPO at an $82 million market cap.
- GloriFi, an American values-focused neobank, plans to go public through a combination with SPAC DHC Acquisition Corp at a $1.7 billion valuation.
🤝 M&A - Fintech
- Tietoevry a Finnish IT services provider that also operates its own banking unit, is considering spinning off Tietoevry Banking, which has annual revenue close to €500 million and around 3,600 employees covering 400 global customers.
- French small business banking platform Qonto plans to acquire German counterpart Penta to pursue serving 1 million customers.
- Insurance provider Integrity Marketing Group is acquiring financial planning and insurance rival Annexus Group in a mega-merger.
- Crypto giant FTX is in talks to acquire South Korean crypto exchange Bithumb, as part of its plan to deploy 'hundreds of millions' to backstop the struggling crypto industry.
- Activist investor Elliott Management is ramping up its stake in PayPal, leaving many to speculate that it will push for stricter cost-cutting measures at the financial services giant.
🏦 M&A - Bank and FinServ
- US digital bank holding company American Challenger terminated its proposed plan to acquire Patriot National Bancorp, accompanied by an $875 million fundraise and recap.
🌎 Fintech Around the World
📚 Deeper Reads & Features
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