This Week in Fintech (8/7)

This Week in Fintech (8/7)

Hello Fintech Friends,

If you’re in Los Angeles, we’re hosting a meetup next Tuesday, August 16th!

We keep hearing from people that they didn’t realize we have a fintech investment fund, so here are the details:

  • The Fintech Fund
  • A $10 million venture capital investor in the best fintech pre-seed and seed-stage founders.
  • Check sizes of $150k to $250k.
  • See our portfolio below!

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

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Join us for a panel discussion around the future of alternative finance with Stripe and Mercury on Wednesday, August 17, 2022, at 10 am PT. Learn more here.

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If you’re looking to hire from a group of 10,000+ smart, motivated fintech professionals, come pick up a Collective Pass and post a job here.

If you’re looking for your next adventure at one of the best fintech companies, check out the open roles here and sign up to be matched with Fintech companies here!

☯️ Exits
💻 IPOs & SPACs
  • Plastiq, the provider of a card-payment-to-anything B2B payments software, agreed to go public at a $408 million valuation by combining with the Colonnade Acquisition Corp. II SPAC. Plastiq previously raised over $144m in VC funding, at a $575m post-money valuation in 2019.
  • Dubai-based currency exchange platform Al Ansari Exchange is considering a Dubai IPO next year.
  • Global Star Acquisition, a fintech-focused SPAC, filed for an $80 million IPO.
🤝 M&A - Fintech
  • Built, a software provider for the real estate lending and construction industry, will acquire commercial real estate deal management platform Nativ.
  • Payments technology provider Global Payments will acquire 50-market B2B payment and point-of-sale provider EVO Payments for $4 billion.
  • Meanwhile, Global Payments is selling its subsidiary Netspend’s consumer business to Rêv Worldwide for $1 billion.
  • Private equity firm Permira is nearing a deal to acquire Reorg Research, a financial data vendor, for $1.3 billion.
  • Blockchain B2B payments provider Paystand has acquired LatAm-focused accounts payable startup Yaydoo.
  • Polskie ePłatności, a Polish payment provider owned by European payments giant Nets / Nexi Group, will acquire Team4U, the owner of Simapka – an app for owners of shops and service points
  • iCapital, the alternative investing and asset management provider, completed its acquisition of investment marketplace SIMON Markets.
  • US digital banking provider Umba acquired a 66.6% stake in Kenyan microfinance bank Daraja.
🏦 M&A - Bank and FinServ
  • Canadian megabank Toronto Dominion Bank plans to acquire New York-based investment bank Cowen for $1.3 billion.
  • India’s Yes Bank, an Indian private sector retail bank, is considering selling 10% of the business to affiliates for $1.1 billion.
  • UK banking group NatWest is evaluating a £1.4 billion acquisition of wealth management firm Quilter.
  • Marex, a metals and commodity broker, will acquire its rival ED&F Man Capital Markets, $220 million.
  • The UK’s Lloyds Bank says that the bank will look into more fintech acquisitions, while also shutting down another 66 retail banking branches.

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🌎 Fintech Around the World

The Next Fintech Movement Coming to the U.S.

What will it take to digitize B2B payments in Africa?

African central banks are toughening up on Flutterwave signaling what other startups should expect

📚 Deeper Reads & Features

In Fintech, 2022 Is Becoming The Year Of Layoffs

Super Apps Aren’t Going To Make It In America

Sibstar: a fintech helping families living with dementia

Is selling shares in yourself the way of the future?

The Decline Of The Bank Starts With Small Business

Capital markets as a service

Why is instant access to money still a myth?

Can Fintech Turn Around Our Collapsing Economy?

Swift could face challenge in new era for cross-border payments

Neobanks struggle for profits as funding shrinks

The Future of CBDC and Stablecoin Coexistence

US regulators vie for crypto control

We can have effective crypto regulation without stifling innovation. Here’s how

​​Vestwell's Michelle Tran rarely rests, which is making a difference for women in fintech

Fraudsters are out to get the digital banking industry: How fintechs can significantly mitigate risk

How billionaire Sam Bankman-Fried does a crypto deal

The Broken Connection Between Payroll Data and Financial Access

No More Pet Store Puppies? New York May Finally Ban Sales.

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