This Week in Fintech (9/18)

This Week in Fintech (9/18)

Hello Fintech Friends,

We’re looking for volunteers to join us for The Fintech Formal! If you’d be interested in helping us out from 3pm through the event on Friday, 11/11, drop us a line and let us know. (All volunteers get free tickets.)

And congrats to Scott Rosenblum, who won a free ticket from our twitter giveaway! We’ll have more soon.

Where else can you find us in the meantime?

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

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☯️ Exits
💻 IPOs & SPACs
  • Corebridge Financial, the retirement spinout from AIG, raised $1.7 billion in its IPO at the low-end of its price range ($21).
🤝 M&A - Fintech

Global fintech M&A is on the rise in the first half of the year, with 591 recorded deals (up from 406 last year) as valuations fall and companies become buy targets.

  • Megabank JP Morgan acquired fintech merchant acquiring payments processor Renovite to provide an alternative to Stripe and Block to businesses accepting payments (the latest in a long fintech acquisition spree by the bank).
  • One-click checkout provider Bolt officially called off its planned $1.5 billion acquisition of crypto on/off-ramp Wyre.
  • Business payments provider Bottomline acquired Nexus Systems, an accounts payable and payments automation software for real estate and property management.
  • Financial services research firm Acuity Knowledge acquired financial institution analytics firm Cians Analytics.
  • Accounting and tax prep provider FMS Solutions acquired rival Retail Financial Services.
  • Private equity firm Warburg Pincus is evaluating acquiring a 30% stake in Indian “shadow bank” lender Vistaar for $150 million.
🏦 M&A - Bank and FinServ
  • Private equity firm KKR is negotiating a stake in Indian financial services firm Avendus Capital for $500 million.
  • Western Union is gearing up for a launch across Latin America with its acquisition of Te Enviei, a Brazil-based digital wallet.

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Want to sponsor a newsletter? See our sponsorship information here.

🌎 Fintech Around the World

For LatAm payment orchestration startups, market fragmentation is a blessing in disguise

Africa’s payments startups are about to face competition from a Brazilian unicorn

Francophone Africa’s first unicorn is disrupting the region’s mobile money market. But can it last?

African leaders are questioning “microcredit” and other norms excluding women from trade

YC’s latest batch cuts African startup presence by more than half

Raising $5 billion in 2021 did not change the game enough for African startups.

📚 Deeper Reads & Features

A bull case for fintech venture capital

Can the Visa-Mastercard duopoly be broken?

TaxL;DR: tax changes are double-edged for startups

Regulators appear to be growing increasingly wary of banks and fintech startups getting too cozy

The consensus for crypto-specific regulation is growing

Here’s where YC’s latest batch of founders are placing fintech bets

All the Personal-Finance Books Are Wrong

U.S. Banks Lost a Record $370 Billion in Deposits Last Quarter

Goldman Sachs: The Quest for Eternal Youth

Potential ETHPoW Fork – Impact on DeFi Lending Markets

Downward Dogs offers yoga and puppies to provide stress relief

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