Deutsche Börse to acquire Denmark’s SimCorp in €3.9bn deal
SimCorp will sit within a newly created investment management solutions segment, Deutsche Börse says.
Mergers & Acquisitions/M&A
Banking Technology Magazine May 2023 issue out now
Cover story: EVERYTHING, EVERYWHERE… but is all at once the answer?
FinTech Futures: Top five stories of the week – 28 April 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
LatAm open finance platform Belvo acquires Brazilian paytech Skilopay
The deal will see Belvo become “the most complete” account-to-account (A2A) payments provider in Brazil.
South Korea’s Kakao Pay eyes majority stake in Siebert
Kakao Pay has acquired a 19.9% stake in the US firm and plans to buy an additional 31.1%.
Binance.US pulls out of Voyager asset acquisition citing “hostile” regulations
Binance.US cites “the hostile and uncertain regulatory climate” in the US as its reason for pulling out.
Smile Identity acquires Appruve to expand across Africa
With the acquisition, Smile Identity aims to expand its reach across Ghana and francophone Africa.
Platform One snaps up £1bn worth of assets from SIPP operator Gaudi
The acquisition takes Platform One’s total assets under administration to £2.7bn.
Stripe funding round helps boost global fintech funding 55% in Q1 2023
Taking Stripe out of the equation, funding actually fell 12% over the same period, coming in at $8.5 billion.
Aussie paytech EML Payments mulls sale as CEO resigns
The company is conducting a review as it looks to “transition away” from its previous long-term strategy.
Illimity Bank sells IT source codes to Engineering Group in €55.5m deal
The €55.5 million is set to be paid over 2023-2026 with a potential additional €4.5 million between 2024-2032.
FinTech Futures: Top five stories of the week – 21 April 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Regtech Kaizen acquires compliance solutions firm Red Deer
Red Deer head of product Alistair Downes says the deal will leverage both firms’ “expertise and technology”.
Goldman Sachs mulls potential sale of BNPL fintech GreenSky
GreenSky was acquired by Goldman in 2021 for $2.24bn to furnish its Marcus banking app.
What the FinTech? | S.4 Episode 6 | Fintech funding trends and the VC investment landscape
In this episode of the podcast, we’re joined by Sarah Hinkfuss, partner at Bain Capital Ventures.
Network International in talks over potential £2bn sale to PE consortium
The consortium is made up of CVC Capital Partners and global tech investment firm Francisco Partners.
Demystify Podcast: Demystifying BaaS in Europe with Warburg and Vodeno
Warburg’s vision and acquisition strategy and how these are being driven by the seismic changes in financial services.
FinTech Futures: Top five stories of the week – 7 April 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
FDIC looks to sell SVB and Signature Bank securities portfolios
The FDIC says the two portfolios are worth around $27 billion (Signature Bank) and $87 billion (SVB).
Navan acquires Indian travel expense management firm Tripeur
The agreement marks Navan’s fifth acquisition in the last two years.
UTP Group set to acquire Wellet’s Spanish business
Launched in 2021, Wellet is a card payment app that uses similar technology to UTP Group’s Tapeeno.
Tandem Bank acquires money app Loop for undisclosed sum
Loop will continue to operate as a standalone brand and app following the acquisition.
UK government delays plan to sell NatWest shares by two years
Rather than offload a 15% stake in the group this year, HM Treasury has pushed the date back to August 2025.
Rathbones acquires wealth management arm of Investec in £839m deal
The new combined UK entity will have around £100 billion in funds under management.
Railsr appoints new CEO, CFO and COO following rescue sale
Railsr board chair Rick Haythornthwaite says the new appointments bring “renewed energy” to rebuild the firm.
SoFi acquires Wyndham Capital Mortgage in all-cash deal
The acquisition includes both “talent and technology” and is designed to help SoFi scale.
US saving and investing app Acorns acquires UK’s GoHenry
Together, both firms will now serve over 6 million customers globally.
India’s PhonePe calls off acquisition of BNPL firm ZestMoney
PhonePe was in talks to acquire ZestMoney for around $200 million to $300 million according to reports.
Banking Technology Magazine April 2023 issue out now
Cover story: TRANSFORMATION INTERVENTION – It’s never too late to recalibrate.
FinTech Futures: Top five stories of the week – 31 March 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
What the FinTech? | S.4 Episode 5 | Levelling up UK fintech
In this episode of the podcast, we’re joined by Charlotte Crosswell, chair of the newly formed CFIT.
Doconomy and Dreams
Two Swedish firms recently joined forces to help shape the future of climate action.
Zenus Bank acquires FUEX Payments for undisclosed sum
Founded last year and based in Puerto Rico, FUEX Payments operates in the Caribbean and Latin American markets.
Sergio Ermotti returns to UBS as group CEO to help manage Credit Suisse takeover
Ermotti was previously group CEO of UBS for nine years between 2011 and 2020.
Metro Bank uses acquisition as a strategy to speed up innovation
A closer look at how Metro Bank has adapted its approach to innovation.
Visa and Mastercard reportedly in talks to acquire Pismo
Visa has reportedly submitted a bid of $1.4bn after an initial offer of $1bn was rejected by Pismo.
Ingenico acquires smartphone payment acceptance fintech Phos
Phos enables merchants to accept payments directly from NFC-enabled Android devices.
UK paytech Equals Group eyes European expansion with Oonex acquisition
The firm plans to roll out its business payments, expense management and current account products throughout Europe.
First Citizens Bank strikes deal with FDIC to buy Silicon Valley Bank assets
The deal includes the purchase of assets of $110bn, deposits of $56bn and $72bn of SVB’s loans.
eToro raises $250m at $3.5bn valuation after nixing SPAC
The funding stems from an Advance Investment Agreement (AIA) which eToro entered into in February 2021.
