Cartoon: À la carte
A new cartoon illustrating how the drop in VC money may result in new fintech start-ups being acquired.
Mergers & Acquisitions/M&A
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.
Mortgage tech firm Twenty7tec acquires Broker Sense and Meet Parker
The deals follow Twenty7tec’s acquisition of fellow UK fintech Bluecoat Software in June last year.
Crypto API provider Wyre reportedly shuttering
The news comes after Wyre was set to be acquired by e-commerce checkout fintech Bolt in April last year for $1.5bn.
GoLogiq and GammaRey merge to focus on millennial wealth management
The combined firm has plans to focus on the burgeoning market of wealth management aimed at Gen Z and millennials.
Path Solutions founder Mohammed Kateeb to leave firm
Path Solutions founder and CEO Mohammed Kateeb is to leave the firm after managing its sale to Azentio Software in 2021.
Cross-border paytech Cornerstone sheds e-money subsidiary in £600k deal
Cornerstone CEO James Hickman says the deal “reflects the value of an e-money registration as well as our platform”.
Twig acquires banking services provider Vybe
With Vybe’s acquisition, Twig plans to expand its Gen Z market footprint.
2022: Top five mergers and acquisitions
FinTech Futures takes a look back at some significant mergers and acquisitions of 2022.
2022: Top five crypto developments
FinTech Futures takes a look back at some of the year’s top crypto developments and stories.
Fintech Galaxy snaps up Egypt’s Underlie to boost regional open finance
Fintech Galaxy will leverage Underlie’s open banking APIs expertise to speed up market penetration in Egypt.
Crypto exchange Binance.US to acquire Voyager assets in $1bn deal
Voyager says the bid “sets a clear path forward” for customer funds to be unlocked “as soon as possible”.
