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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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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Yieldstreet 🤝 Cadre (TWIF 12/3)

Yieldstreet 🤝 Cadre (TWIF 12/3)
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Hello Fintech Friends,

2 fintech and 1 financial services IPO announced for 2024... are things heating back up?

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
Signals: Binance’s $4.3B settlement
Binance’s settle highlights the need for better regulation, and the role that decentralization plays in a compliant crypto schema.
Signals Outlook Survey Winter ’23: Is the fintech pity party over?
Our Winter ’23 survey spotlights the community’s outlook on how venture funding, regulatory changes, and AI will impact fintech over the next 6 months.
☯️ Exits
💻 IPOs & SPACs
  • PayU, a global payments business primarily operating in India, is planning to IPO it Indian business within the next 12 months. The Indian unit sees revenues of $211 million per year. Its private equity owner, Prosus, recently sold off much of the non-Indian business to Israel’s Rapyd for $610 million.
  • MobiKwik, an Indian online payments, wealth management, and credit provider, filed for an IPO in Mumbai that could raise about $84 million.
  • HPS Investment Partners, the private credit firm carved out of JP Morgan in 2016, confidentially filed for an IPO that could value it at $8 billion.

🤝 M&A - Fintech
  • Alternative investing platform Yieldstreet announced that it will acquire real estate investing platform Cadre. The two companies did not disclose the transaction price. Cadre previously raised $133 million and was last valued at $800 million. Cadre says the merger is part of their focus on an eventual IPO: “That’s the motivation, to extend our leadership, to set us up for a successful IPO, to build the best business.”
  • NomuPay, an Irish payments startup formed from a few business units of the dramatically failed fintech Wirecard, acquired Total Processing, a Manchester-based startup that builds payment processing solutions for functions like recurring payments, risk management, PCI compliance and payment integrations. NomuPay will pay $35 million for the acquisition, and says its own valuation is now $135 million.
  • Warren Buffett’s Berkshire Hathaway sold its entire stake in the parent of Indian mass-market payment provider Paytm for around $165 million, taking a 40% loss on the investment it made 5 years ago.
  • Global stock trading app WeBull acquired Mexican investment platform Flink in order to enter Latin America. Flink had previously raised $70 million in funding.
  • White Glove and TouchFuse, two providers of marketing services to financial advisors, agreed to merge.

🏦 M&A - Bank and FinServ
  • Luxembourg-based fund administrator Alter Domus is selling a stake of the company that would value it at €4 billion.

🌎 Fintech Around the World

Indonesia: Central Bank Issues Ethical Guidelines on AI for Fintech

Exploding Carbon-Credit Market Helps Brazil Regrow Rainforest

Argentina's new president could 'supercharge' nation's use of crypto

📚 Deeper Reads & Features

First Republic Crashed and Burned. Citizens Financial Wants to Copy Its Business.

The Top 25 Women Leaders in Financial Technology of 2023

Where Have All the Foreign Buyers Gone for U.S. Treasury Debt?

The Role of Fintech in Unsecured Consumer Lending to LMI Individuals

Wall Street’s ESG Craze Is Fading

ECB says property slump could last years in threat to lenders

The Bond villain compliance strategy

How Neon Money Club Used 'Invite-Only' & Other Tactics To Grow

How AI will change investment and research

Virtual Credit Cards: What Are They and Should You Use Them?

Millennials led the consumer fintech revolution post-2008. Here’s why Gen Zers are about to do the same

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