Two weeks into 2023, we have two billion-dollar fintech acquisitions (TWIF 1/15)

Two weeks into 2023, we have two billion-dollar fintech acquisitions (TWIF 1/15)
Photo Credit: Matt Longmore

Hello Fintech Friends,

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

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☯️ Exits
🤝 M&A - Fintech
  • It’s been quite a week at Duck Creek! The enterprise insurance software provider acquired Swiss payments platform Imburse Payments, and was then itself acquired 4 days later in an all-cash transaction by Vista Equity Partners at a $2.6 billion valuation.
  • Canadian card issuing, banking, risk and payments provider Nuvei announced the $1.3 billion all-cash acquisition of US-based Paya, which “helps customers such as insurers, utilities and nonprofits collect payments, process checks and perform additional services.”
  • Global remote payroll provider Deel acquired equity and cap table management provider Capbase for an undisclosed sum.
  • US asset manager Fidelity acquired automated equity management operations provider Shoobx, in its first acquisition in 7 years.
  • Israeli financial infrastructure firm Pagaya acquired single-family home rental platform Darwin Homes in its first acquisition.
  • Twenty7Tec, a UK mortgage technology provider, acquired digital engagement specialist Meet Parker 18 months after first investing in it.
  • Canadian stock exchange operator TMX Group acquired a 21% stake in data, analytics, and indexing company VettaFi for $175 million.
  • Regulatory technology startup Cube acquired regulatory data analysis firm The Hub.
  • Fintech and data analytics provider GoLogic entered an agreement to acquire startup Nest Egg Investments for $30 million in an all-stock transaction.
  • Asset manager BlackRock acquired Human Interest, a startup that offers 401k plans.
  • African payments giant Flutterwave is reportedly in talks to acquire UK embedded banking firm Railsr at a discount to its latest round.
  • Alibaba sold the $125 million stake that it held in Indian payments firm Paytm.
  • Bankrupt crypto lender Voyager Digital received preliminary approval for its acquisition by Binance.
🏦 M&A - Bank and FinServ
  • Deloitte’s UK arm sold its pensions business to the private equity-backed KPMG spin-off Isio.
  • Canadian financial services group Canaccord Genuity’s management made a $1.127 billion takeover bid for the company.
  • Standard Chartered bank is considering selling off its $3.7 billion aircraft leasing business.

🌎 Fintech Around the World

Ant: digital renminbi poses big risk to Chinese payments business

What Does 2023 Hold For India’s Fintech Startups?

Ghost Banks Limp Along in Argentina, Staying Open as Costly ATMs

Kenyan banks are battling for a share of the mobile money market

📚 Deeper Reads & Features

8 venture investors predict the top trends in fintech for 2023

Tanvi’s Take: Fintech in 2023

US banks set for bumper lending profits but face end of rate rise cycle

Banking-as-a-Service: What it is, why it’s Important and How to Play

Banks 'feel pressured' to collaborate more with fintechs

How can fintech startups outlast the VC winter?

The Downsides of Using ‘Buy Now, Pay Later’

What InCred Money’s acquisition of Orowealth tells us about the wealth-tech industry

Declining Demand for Binance's BUSD Represents New Chapter in Stablecoin Wars

Fintech Stocks Did Worse Than Fin or Tech in 2022

Global regulators to step up scrutiny of risks outside banking system

Dutch scientists left a hamster wheel outside and saw mice, slugs, and frogs all take a turn riding it

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