Hello Fintech Friends,
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Please find another week of fintech exits and deep reads below.
🤝 M&A - Fintech
- Roboadvisor Wealthfront snuck a late press release over the wire Friday night, announcing that bank UBS had decided to abandon its proposed $1.4 billion acquisition of the fintech. The bank will instead provide Wealthfront with $70 million in equity funding at the same valuation. We can only speculate as to why the deal was called off, but more details will likely emerge in the coming weeks.
- PostEx, a Pakistani e-commerce delivery, payments, and lending provider with a $12 million monthly loan book, will acquire logistics provider Call Courier.
- Infront, a wealth tech builder for Europe, will acquire wealth management software rival Assetmax.
- US capital table management provider Carta acquired UK rival Capdesk.
- Blik, a Polish mobile payments operator, is acquiring Viamo, a Slovakian payments firm.
- Private equity firm Genstar Capital acquired capital markets risk management technology Numerix.
- LevelField Financial, a fintech for traditional and digital asset management, acquired broker-dealer Netshares Financial Services.
- Fund administrator Apex Group is acquiring Brazilian alternative asset administrator MAF.
- Goldman Sachs completed its acquisition of wealth management fintech NextCapital Group.
- Investor Jupiter Fund Management is looking to sell its entire 10% stake in Starling Bank months after the digital lender's valuation passed £2.5 billion.
- Distressed asset purchaser Lone Star was awarded $216.5 million in damages for South Korea’s delay of its acquisition of Korea Exchange Bank.
🏦 M&A - Bank and FinServ
- MetLife acquired Affirmative Investment Management, a $1 billion London-based fixed income manager focused on impact investing.
🌎 Fintech Around the World
📚 Deeper Reads & Features
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