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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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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.

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India's fintech exit bonanza! (TWIF 10/15)

India's fintech exit bonanza! (TWIF 10/15)
The definitive list of the 100 most influential architects and interior designers in India

Hello Fintech Friends,

People who think the growth story in fintech is over are just not paying enough attention.

This week, two new fintech companies - Stash and PayU - announced their intentions to go public, likely at $1B+ valuations each, while two Indian fintechs - Slice and CRED - both announced acquisition efforts. Innovation in financial services has a long way to go, and the disparities between the availability of finance in different parts of the world hints at a massive amount of opportunity under the surface of a chilly market.

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


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📖 Read of the Week
Autopay Is Making Us Worse at Managing Credit-Card Bills
The set-it-and-forget-it approach can lead consumers to paying more in interest charges.
Americans Have Saved Hundreds of Billions More Than Previously Thought
Reports of the demise of excess US household savings were greatly exaggerated.

☯️ Exits
💻 IPOs & SPACs
🤝 M&A - Fintech
  • Slice, an Indian credit and debit card provider that issued 400,000 cards per month at its peak and was last valued at $1.5 billion, received approval from the Reserve Bank of India to merge with North East Small Finance Bank after acquiring 10% ownership in the bank.
  • Meanwhile, CRED, the Bangalore-based credit card rewards app, is in talks to acquire mutual fund and wealth management platform Kuvera, which has an AUM of about $1.4 billion.
  • Payments and financial technology conglomerate Fiserv will acquire Brazilian electronic funds transfer solution Skytef.
  • Private equity firm Incline Equity Partners sold off its portfolio company ARMStrong Receivable Management, a provider of commercial accounts receivable management.
  • Pan-African private equity firm Adenia Partners acquired a majority stake in Enfin, a provider of solar financing solutions in South Africa.

 

🏦 M&A - Bank and FinServ
  • Goldman Sachs finally sold off its embattled consumer lender GreenSky, which it acquired for $1.7 billion, to a consortium led by Sixth Street and KKR for a rumored $500 million.
  • Antares Capital, a provider of credit to private equity firms, is evaluating an acquisition of its European rival Hayfin.
  • Citigroup will sell its China consumer wealth unit to HSBC.
  • Truist Bank is in talks to sell its entire insurance unit to private equity firm Stone Point for $10 billion.
  • Germany’s Deutsche Bank completed its takeover of Numis, a UK boutique investment bank.

🌎 Fintech Around the World

China’s Rich Entrust Total Strangers to Sneak Cash Out of the Country

📚 Deeper Reads & Features

A DeFi protocol wants to become an investment adviser

Payments 3.0: Stripe And Adyen Vs. The Others

The rise of the theme-based super app

JPMorgan Has a Master Plan to Beat Competitors in Silicon Valley

The Owner of the NYSE Wants to Expedite Your Mortgage

You Can't Send AI To Jail — So Use it to Fight Crime. Here's How AI Is Taking Banking Compliance To the Next Level

Braid Is Dead, Long Live Braid

Getting Out of the (Fin)Tech Bubble

Goldin Awarded Economics Nobel Prize for Gender-Gap Work

Bolt CEO discusses company moving on after SEC probe

Can AI fix Wall Street’s ‘spaghetti code’ crisis? Microsoft and IBM are betting that it can

La revolución digital en la logística

Puppies training to be future service dogs earn their wings at Detroit-area airport

 


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