This Week in Fintech (8/21)

This Week in Fintech (8/21)

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Please find another week of fintech exits and deep reads below.


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☯️ Exits
💻 IPOs & SPACs
  • Covalto, a Mexican digital banking and payments platform, will become the first to list on the Nasdaq exchange through its merger with SPAC LIVB at a $547 million enterprise value.
🤝 M&A - Fintech
  • Remitly, the cross-border payments provider, acquired Rewire, an Israeli banking services provider to migrants, for $80 million.
  • Fintech brokerage eToro will acquire rival Gatsby for $50 million.
  • Ghanaian cash flow and spend management platform Float acquired Nigerian cloud-based accounting service Accounteer.
  • The UK investment manager abrdn became the majority shareholder of the UK’s first regulated digital securities exchange, Archax.
  • Axo, a Norwegian personal finance company, acquired digital credit scoring and financial management startup Defero.
  • Revenue Management Solutions, which provides automatic healthcare payment reconciliation, acquired payment automation provider OrboGraph.
  • Crypto venture capital firm Dragonfly acquired digital currency hedge fund MetaStable Capital.
  • Accounting platform Sage Group acquired accounting software builder Lockstep.
  • ClaimLogiq, a healthcare payment integrity platform, completed a recap with private equity firm Eir Partners.
  • Crypto investment fund Galaxy Digital walked away from its plan to acquire crypto custody firm BitGo for $1.2 billion.
🏦 M&A - Bank and FinServ
  • Regional bank Central Bank of Kansas City spun out its payments arm, Central Payments.

🌎 Fintech Around the World

Brazil's central bank chief predicts end of credit cards

Chinese municipal bank issues first digital yuan loan holding IP as collateral

India's illegal finance apps bring worry, regret

Meet the Paystack Mafia: a group of emerging Nigerian founders

Fintech firms ramp up investments in Kenya’s microfinance space

📚 Deeper Reads & Features

Where Money Meets Feelings: Financial Therapy Finds Its Footing

In Defense of Stablecoins

Your Data Science Problems are Engineering Problems

(Un)insuring DeFi Holdings with Ease

In Crypto's Crosshairs, Superstar BlockFi Makes a Great Escape--for Now

Samir Desai's new venture promises Super savings for shoppers and businesses

Samir Desai works on free online payments

Interswitch's zero integration set-up fee and 5% referral commission for developers

The fintech revolution in insurance

How fintech firms can develop great products to stay ahead of the curve

Squirrels Are Ready For Cooler Weather, Too


Have a news item for us? Reach out to news@thisweekinfintech.com.