Santander reportedly in discussions to purchase Abrdn’s private equity unit
A deal could be made in the next few months with the unit valued at around £250m, Sky News reports.
Mergers & Acquisitions/M&A
FinTech Futures: Top five stories of the week – 17 February 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Financial market data provider Quodd acquires Xignite
The combined business will serve more than 2,200 companies.
Global fintech investment drops 31% in 2022 from record 2021 high
Despite the drop, it was still the third-best year for fintech investment ever.
Zopa acquires DivideBuy in “BNPL 2.0” push
Zopa’s “BNPL 2.0” offering will allow consumers to spread the cost of purchases worth between £250 and £30,000.
Saudi fintech Hala acquires UAE paytech Paymennt.com
Maher Loubieh, co-founder of Hala, says Paymennt’s product was a “clear fit” with their own strategy.
UK fintech Deko hires Joseph Tucker as new CFO
Tucker joins from NewDay, which acquired Deko in January 2020.
Finastra reportedly looking to sell banking business
Finastra is understood to be exploring the sale of its banking portfolio for as much as $7 billion.
NatWest Group snaps up UK fintech Cushon for £144m
The acquisition will enable NatWest to offer its commercial customers a suite of financial wellbeing products.
FIS reveals plans to spin off merchant business unit
FIS expects the spin-off to be completed within the next 12 months.
Cartoon: À la carte
A new cartoon illustrating how the drop in VC money may result in new fintech start-ups being acquired.
FinTech Futures: Top five stories of the week – 10 February 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
FNZ to acquire Luxembourg-based B2B fund platform Ifsam
FNZ says the acquisition will strengthen its client proposition and build out its presence in Luxembourg.
Inter&Co acquires real estate investment start-up YellowFi
Inter&Co provides financial services through its ‘super-app’ to more than 25 million users.
Pipe Technologies appoints Luke Voiles as its new CEO
Voiles joins Pipe from Square, where he served as general manager of Square Banking.
Crypto exchange Binance snaps up majority stake in South Korea’s Gopax
The investment is part of Binance’s ‘Industry Recovery Initiative’ (IRI), launched in 2022.
Banking Technology Magazine February 2023 issue out now
Cover story: HAPPY DAZE – Banking for cannabis businesses boosted.
Fraud prevention platform Seon acquires AML firm Complytron
Thanks to the acquisiton, Seon will be able to offer “a vital single source” to fight fraud holistically.
UK challenger Zopa lands £75m funding to fuel growth
Zopa says the deal “cements and markedly enhances” its unicorn valuation.
Nano sells home loan book to AMP Bank as it pivots to tech focus
Nano plans to wind down its home loan services and focus on providing technology to financial services companies.
Marqeta makes first M&A foray with $275m Power Finance deal
The acquisition, Marqeta’s first, will “significantly boost” the firm’s credit product capabilities.
Dubai Investments buys 9% stake in UK challenger Monument Bank
Dubai Investments says the acquisition gives it a “unique opportunity” to move into the digital banking space.
SMB financial health platform Nav acquires Nuula
Nav says the acquisition will boost its existing offerings for small businesses.
Wealthtech start-up Nucoro reshapes its business
“Last year, we decided to reshape the business to be in line with our new strategic imperative,” says CEO.
Corlytics acquires regulatory lifecycle platform ING SparQ in €5m deal
Corlytics’ CEO John Byrne says the deal “sets the runway for further strategic acquisitions”.
FNZ acquires wealthtech start-up YieldX
YieldX’s fixed income portfolio management technology will be integrated into FNZ’s wealth platform.
Cartoon: Sandwich making
A new cartoon illustrating the consolidation and M&A process that the fintech market is starting in earnest.
Abacus Group snaps up cybersecurity firms Gotham Security and GoVanguard
The new business will be a subsidiary of Abacus Group but will continue to operate independently.
Goldman Sachs loses $3bn over three years on platform solutions business
Reuters reports the firm outlined a pre-tax loss of $1.2bn for the first nine months of 2022.
Pagaya buys Darwin Homes to capitalise on rental market
Post-acquisition, Pagaya and Darwin’s SFR business now operates in more than 30 markets across the US.
FinTech Futures: Top five stories of the week – 13 January 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
American Express buys Israeli B2B payments automation start-up Nipendo
Amex plans to “integrate Nipendo’s team, technology and capabilities” to boost its B2B payments offerings.
Apex Group snaps up Pacific Fund Systems
PFS is a fund administration software company headquartered in the Isle of Man.
JP Morgan sues Frank founder for allegedly inflating user figures
JP Morgan acquired the student loan application fintech for $175 million in 2021.
Automated intelligence regtech Cube acquires The Hub
Cube’s CEO says the deal marks the first in what is expected to be a series of acquisitions.
Tap Global becomes UK’s first listed crypto exchange services provider
Tap Global raised £3.1 million from listing on the UK-based Aquis Stock Exchange.
Fintus acquires fellow German fintech Finstreet
The acquisition follows an investment from AnaCap Financial Partners into Fintus.
Africa’s Flutterwave reportedly in bid to acquire British fintech Railsr
An insider reportedly told Sky News that there was “heavy competition for the asset”.
Nuvei to acquire Paya for $1.3bn
With Paya’s acquisition, Nuvei expects to capitalise on domestic and global payments opportunities.
ACI Worldwide mulls potential sale
The payments software firm is working with financial advisors as it gauges interest levels, sources tell Bloomberg.
