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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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Waystar IPO raises $1B; Robinhood buys Bitstamp for $200M (TWIF 6/9)

Waystar IPO raises $1B; Robinhood buys Bitstamp for $200M (TWIF 6/9)
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Hello Fintech Friends,

London Fintech Breakfast · Luma
Join TWIF for our first ever London Fintech Breakfast! We’ll be inviting some of the world’s best operators, advisors and investors to a networking event like…
RiskCon London w/ Oscilar and This Week in Fintech · Luma
You’re invited! Join us in London on 26 June RiskCon is a community of top risk leaders across banking, fintech, and lending. Join us in London for engaging…
São Paulo Fintech Meetup · Luma
São Paulo Fintech Meetup

Have you checked out our swag store?

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


📺
Sponsored Content

Raising debt capital is a crucial requirement for card, lending, and neobank startups, but most fintech operators don’t come from a capital markets background. That’s why Finley and Cross River Bank put together this comprehensive guide to raising debt capital. It outlines the people, processes, and partners you need to assemble to execute a debt capital raise. Download your free copy here.


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


📖 Read of the Week
Real-time payments in 1,000 words
Real-time payments are a critical but often misunderstood trend in global payments. This note explains how they work, what catalyzed their recent growth, and why some networks are more successful than others.

☯️ Exits
💻 IPOs & SPACs
  • Is the IPO window back open? Health-care payments software company Waystar priced its IPO at the midpoint of a marketed range to raise $968 million at a market value of $3.6 billion, in one of 2024’s biggest listings so far.
  • Melar Acquisition I, a SPAC targeting the "emerging finance" sector, filed with the SEC to raise up to $150 million in an IPO.

🤝 M&A - Fintech
  • Consumer investing platform Robinhood agreed to buy crypto exchange Bitstamp for about $200 million in cash (a 50% drop from its prior valuation), in the platform's continued push into digital assets and crypto markets. Bitstamp holds 50 active licenses and registrations globally, giving Robinhood the ability to quickly compete with other global exchanges.
  • Customer experience, billing, and payments provider CSG acquired iCheckGateway, a North American ACH and credit card payment processing company, for $17 million.
  • American home warranty provider Frontdoor entered into an agreement to acquire 2-10 Home Buyers Warranty in an all-cash transaction valued at $585 million.
  • insightsoftware, a provider of reporting, analytics, and performance management solutions, acquired FXLoader, a UK provider of automated exchange rate loading software for financial applications.
  • Commerce platform Shopify acquired Checkout Blocks, allowing Shopify Plus merchants to make no-code customizations in their checkout to enhance customer experience and potentially boost sales.
  • Stablecoin provider Tether bought $100 million of shares in Bitcoin miner Bitdeer.
  • TRANSACT, an annual event in the payments processing industry, was acquired by trade show platform Trifecta Collection from the Electronic Transactions Association.

🏦 M&A - Bank and FinServ
  • Qatar’s sovereign wealth fund agreed to buy a 10% stake in China Asset Management Co., one of the nation’s largest mutual fund firms, for $490 million.
  • Preqin, a British provider of data on private markets, is exploring a sale that could value the company at £1 billion, using Goldman Sachs as its advisor.
  • The US arm of accounting firm Grant Thornton agreed to sell a majority stake to the investment group New Mountain Capital.
  • Private equity firm JC Flowers completed the sale of Romanian bank First Bank S.A. to Italian banking group Intesa Sanpaolo.
  • Investment bank Piper Sandler agreed to buy smaller rival Aviditi Advisors.


📺
Sponsored Content

Raising debt capital is a crucial requirement for card, lending, and neobank startups, but most fintech operators don’t come from a capital markets background. That’s why Finley and Cross River Bank put together this comprehensive guide to raising debt capital. It outlines the people, processes, and partners you need to assemble to execute a debt capital raise. Download your free copy here.

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


🌎 Fintech Around the World

Singapore businesses look to cash in on cross-border payment links as visitor numbers rise

EU watchdog says banks must take full responsibility when using AI

International Association of Crypto-Economy and AI Created in Kyrgyzstan

📚 Deeper Reads & Features

Why fintech upstarts have failed to unseat UK banks

Want to Pay Cash? That’ll Cost You Extra

With the latest existential threat gone, will the CFPB finally grow up?

Walmart And Capital One Call It Quits

How the Capital One/Discover deal could boost competition

What does the Cantero decision mean for national banks?

François Hollande: Fintech investment is key

They Were Used to Five-Star Service at First Republic. Now They’re Just Regular Customers.

Marqeta, MoneyLion and Verituity: Adapting to the fintech downturn

How do we fix issues that led to Synapse/Evolve?

Inside the Collapse of Synapse: Missing Funds Were Known to Investors, Banks for Years

CFPB says startups and consumers must have say in open banking standard setting

Artificial Intelligence in Fintech: Applications and Ethical Concerns

Family speaks out after giraffe picks up toddler


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