The Front Page of Global Fintech

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.

Image Description

The Front Page of Global 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.

Image Description

Return of the IPOs (TWIF 3/10)

Return of the IPOs (TWIF 3/10)
Building a plywood paipo

Hello Fintech Friends,

Is the IPO window opening back up? UK corporate banking services provider Ebury is reportedly eyeing a listing at a £2 billion valuation, while others like Klarna and Circle move towards their own listings.

Meanwhile, Virgin Money will be acquired for £2.9 billion and $12 billion payroll unicorn Deel is on an acquisition spree.

See how fintech unicorn Robinhood is diversifying its revenue streams in our latest Signals writeup:

Signals: How Robinhood is preparing for life after PFOF
The answer is a surprising shift for its business model.

Please find another week of fintech exits and deep reads below. (👍👎 Have feedback for us? Let us know!)

Sponsored Content

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

📖 Reads of the Week
February 2024: Fintech can save the American banking system. Regulators should help
The amazing, consolidating American Banking system.
State of the (FinTech) Nation
8 reasons why I’m optimistic about Consumer FinTech
On the moat of vertically integrated software businesses
Shopify might be making most of its revenue from payments, but it’s the software component of its business, the Shopify commerce platform that gives it the right to win. Does Toast have the same moat?
The Secular Decline of Bank Balance Sheet Lending
Founded in 1920, the NBER is a private, non-profit, non-partisan organization dedicated to conducting economic research and to disseminating research findings among academics, public policy makers, and business professionals.

☯️ Exits
💻 IPOs & SPACs
  • Lex at Fintech Blueprint speculates that Klarna's upcoming IPO could draw a valuation as high as $20 billion. (The buy-now-pay-later provider last raised $800 million at a $6.5 billion valuation.)
  • Ebury, a corporate banking services provider to small businesses that operate internationally, is investigating a London IPO at a £2 billion valuation.
  • Zach Perret, the CEO of open banking provider Plaid, confirmed the company has no plans for an IPO this year.

🤝 M&A - Fintech
  • Global payroll provider Deel, valued at $12 billion is on an acquisition spree: this week, it acquired PaySpace, a South African HR software and services company, reportedly at a price over $100 million – Deel recently crossed $500 million in ARR. It also acquired Zavvy, a Munich-based “people development” startup building tools for personalized career progression, training, and performance management (estimated at $16 billion).
  • SoftCo, which delivers financial process automation solutions for procurement, accounts payable, expenses and payments processes, announced that it will be acquired by Keensight Capital for over €100 million.
  • French business banking unicorn Qonto is acquiring Regate, an accounting automation software-as-a-service startup.
  •  Ziff, a Mexican revenue-based financing provider for businesses, acquired commercial property lending startup Arrenda.
  • Nayax global publicly-listed commerce enablement, payments, and loyalty platform designed for merchants, will acquire VMtecnologia, a technology provider for the automated self-service industry in Brazil.
  • European alternative financing provider CapitalBox acquired Danish fintech Omniveta Finance, an invoice-purchasing company dedicated to improving lending liquidity for SMEs across Denmark.
  • Global consulting firm Oliver Wyman acquired digital payments consulting provider Innopay.
  • Alter Domus, which provides tech-enabled fund administration, private debt, and corporate services for the alternative investment industry, secured an investment from private equity firm Cinven at a €4.9 billion valuation.

🏦 M&A - Bank and FinServ
  • Nationwide Building Society, which provides consumer financial services in the UK via its 686 branches, will acquire Virgin Money for £2.9 billion to expand into business banking.
  • Blue Ridge Bank, a frequent partner bank to the fintech industry, reportedly turned down a potential acquisition offer from Southern BancShares. Southern offered Blue Ridge, which is under a regulatory consent order, between $4.50 and $5.50 per share, a premium between 30.8% and 59.9% to the company's $3.44 share price.
  • JP Morgan reportedly pursued an acquisition of Discover before Capital One's $35 billion deal.

🌎 Fintech Around the World

Irish central bank sets new payments strategy as country lags rest of Europe

Emerging FinTech Powerhouses Ruling New York’s Startup Scene

Southeast Asia Becoming Hub for Crypto, Web3, AI

📚 Deeper Reads & Features

Nubank CEO dishes on the neobank’s profit surge and how tourist VCs in LatAm have gone home

Leaked Treasury Prime Docs Show Risks Of BaaS Business: Churn, Concentration, Slowing Growth

Do Credit Card Shoppers Need A New Comparison Site?

The 80/20 of how to work with multiple bank sponsors.

BaaS is a Four-Letter Word

Getting to the “Top of the Wallet”

The CFPB's Section 1033 rule is a good start, but could be much better

Citi Reorganization Has Gone Swifter Than Expected, CEO Says

CB Insights’ State of Fintech: 2023 Recap & Emerging Trends in 2024

KPMG: H2 2023 - Pulse of Fintech

Fintech employees trained in AI in just over one-third of central banks

How AI and Machine Learning Are Shaping Fintech

Checking the Math Behind the CFPB’s Comparison of Credit Card Interest Rates Between Large and Small Issuers

PayPal’s AI Surprise: Why It’s More Than Just a Fintech Stock

Is Your 401(k) Destroying Capitalism?

New Jersey tree trimmer helps rescue over 100 cats in trees

Have a news item for us? Reach out to