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The Front Page of Fintech

The the largest fintech community in the world. Subscribe to our newsletter to stay up to date on the latest in news opinions, and all things financial technology.

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PayU is contemplating a $7B IPO in '25 (TWIF 11/24)

PayU is contemplating a $7B IPO in '25 (TWIF 11/24)
@camerapicasso

Hello Fintech Friends,

Come join us in Palo Alto on December 4th for a panel discussion on payments with Ayo Omojola (founding member of Cash App), Justin Zhao (Visa), and Gil Akos (Astra).

Fintech Happy Hour with Astra, Visa, & TWIF · Luma
Join us for refreshments, lively conversation, and a panel discussion on payments with Ayo Omojola (founding member at Cash App), Justin Zhao (Visa), and Gil…
Elena Cruz Lorenzo on LinkedIn: #fintech #thisweekinfintech #globalleadership #fintechinnovation #diversity
My highlight from the This Week in Fintech annual off-site was feeling truly inspired by the strength and diversity of our team. With members from North…

And if you haven't yet checked out the Technology Brothers pod by Capital's Jordi Hays and Soylent's John Coogan, add it to your list:

Technology Brothers
The most profitable podcast in the world.

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

(👍👎 Have feedback for us? Let us know!)


📺
Sponsored Content

Shopify recently unveiled Shopify Finance - a new centralized hub within the merchant admin and Shopify mobile app, designed to provide merchants with easy access to all their financial tools (Shopify Capital, Shopify Balance, Bill Pay, Shopify Credit, and Shopify Tax) and information. The Finance section allows merchants to manage their finances from their admin, with a comprehensive overview of their financial health whether they're working on a desktop or mobile device.

By consolidating these financial tools and insights into a single dashboard and within the Shopify mobile app, merchants can efficiently manage their business finances anytime, anywhere, enhancing their ability to make strategic decisions and maintain financial control.

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


📖 Reads of the Week
‘I have no money’: Thousands of Americans see their savings vanish in Synapse fintech crisis
CNBC spoke to a dozen customers caught in the Synapse fintech predicament, people who are owed sums ranging from $7,000 to well over $200,000.
Brazil’s Pix payment system is one of the world’s most used instant payment systems
“Brazil’s Pix payment system is one of the world’s most used instant payment systems” is published by Mohamed Rasvi in DevOps.dev.
Why Digital Wallets Fail?
Cracking the Code to Win Over Consumers by Grace Wu

☯️ Exits
💻 IPOs & SPACs
  • Software company ServiceTitan filed for an IPO on the Nasdaq under the ticker "TTAN". Founded in 2013, it develops end-to-end software for home service industries like HVAC, plumbing, and electrical services. The company reported $348 million in revenue for the first half of 2024, reflecting a 26% increase year-over-year, but also incurred a $92 million net loss. It was last valued at $9.5 billion in 2021. (For more details, see Alex Clayton's great S-1 breakdown here.)
  • Prosus, a Netherlands-based investment firm, is considering an IPO for its fintech arm, PayU, at a valuation from $5 to $7 billion. This decision follows the successful public listing of Swiggy, another Prosus-backed company. PayU operates in multiple markets, offering payment and credit services, and has been expanding its reach, particularly in emerging economies​
  • FG Merger III, a fintech-focused SPAC, withdrew its $150 million IPO.
Klarna’s Planned IPO Sets the Stage for More Fintech Listings
Klarna Bank AB’s planned initial public offering is fueling hopes that a long drought of fintech listings may be coming to an end, heralding a wave of debuts for the sector over the next couple of years.

🤝 M&A - Fintech
  • Robinhood purchased TradePMR, a custodial and portfolio management platform for registered investment advisors, for $300 million, aiming to enhance its services for wealth management clients​.
  • Celero Commerce acquired Precision Payments for an undisclosed amount, expanding its offerings in the payments sector​.
  • Modulr acquired Nook, a provider of accounts payable automation, to strengthen its payment solutions for businesses.
  • Crypto.com bought Australian brokerage and trading firm Fintek Securities, making a strategic expansion into the securities space​.
  • Paxos, a stablecoin issuer, agreed to acquire Membrane Finance, a Finnish fintech, to support its entry into the EU market​.
  • SolomonEdwards acquired Dominion Advisory Group, bolstering its capabilities in financial services risk and compliance consulting​.
  • MakeMyTrip acquired Happay, a business expense management platform, from Indian fintech Cred, as part of its broader strategy to grow in the corporate travel segment.
  • Brazilian fintech infrastructure provider Celcoin purchased CobranSaaS, a provider of loan and debt collection management solutions, to broaden its financial services offerings​.

🏦 M&A - Bank and FinServ
  • Barclays is negotiating a deal to divest 80% of its stake in its merchant acquiring business, aiming to streamline its operations while maintaining some influence over the unit. The new arrangement would allow Barclays to retain a minority stake while partnering with a third-party buyer to manage the business.
  • Bahrain-based private equity group Investcorp and Canadian pension fund PSP Investments are buying PKF O’Connor Davies, the 25th largest accountancy firm in the US by revenue.
Gary Michael Ludorf on LinkedIn: 🍞 Toast stock has soared over 200% in the past year, and if you’ve been…
🍞 Toast stock has soared over 200% in the past year, and if you’ve been paying attention, you’re probably nodding along. If not, I'll catch you up ⤵️ 💸…

📺
Sponsored Content

Shopify recently unveiled Shopify Finance - a new centralized hub within the merchant admin and Shopify mobile app, designed to provide merchants with easy access to all their financial tools (Shopify Capital, Shopify Balance, Bill Pay, Shopify Credit, and Shopify Tax) and information. The Finance section allows merchants to manage their finances from their admin, with a comprehensive overview of their financial health whether they're working on a desktop or mobile device.

By consolidating these financial tools and insights into a single dashboard and within the Shopify mobile app, merchants can efficiently manage their business finances anytime, anywhere, enhancing their ability to make strategic decisions and maintain financial control.

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


🌎 Fintech Around the World

The US Stablecoin Startup Fueling a $3 Billion Boom in Africa

📚 Deeper Reads & Features

The Big Changes Coming To Elizabeth Warren’s CFPB And Fintech Regulation

Apple Pay, Cash App, PayPal and other apps to be treated more like banks

Authorization or Annoyance: Will 1033 Reauthorization Requirements Create a Ticking Time Bomb?

Behind the Scenes of Data Security in Financial Services

Ansa* Offers Branded Digital Wallets To Drive Customer Loyalty

Orum* founder Stephany Kirkpatrick was having a banner year when she learned she had breast cancer. Here’s how she stepped away and set up her company for success.

When IR Met AI: How the Technology Is Shaping Earnings-Day Prep

New NYC dog daycare offers pet-friendly wine, psychic and chiropracter: ‘Soho House for dogs'


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