This Week in Fintech (9/4)

This Week in Fintech (9/4)

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

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☯️ Exits
🤝 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

Fintech in Africa: The end of the beginning

📚 Deeper Reads & Features

NFT Lending Models

Leading With Software When Building A Lending Business

The future of BaaS

U.S. Dollar Hits 20-Year High: Here’s What That Means

Why is Real-Time Market Data so Expensive?

Explaining the confusing money movement for AFTs and OCTs

Ethereum Tightening More Than Fed

Fundraising Changes For Fintech And Blockchain Companies In The Next Year

This Wall Street Bank Is Learning That Building a Fintech Is Harder Than It Looks

Twin sisters from Hawaii are building Staax, 'Venmo meets Robinhood'

Why startups are courting convenience stores from Mexico to Indonesia

Five trends to watch when considering a digital banking strategy

a16z’s fintech leads say ‘Silicon Valley is becoming unbundled’

Wild video shows escaped bull rampaging through Israeli bank

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