FinTech Futures: Top five stories of the week – 11 November 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Mergers & Acquisitions/M&A
UK embedded finance firm Railsr reportedly considering sale
According to Sky News, Railsr is discussing a number of strategic options with FT Partners.
Binance nixes mooted FTX acquisition deal
In a tweet, Binance says “we have decided that we will not pursue the potential acquisition of FTX.com”.
MeridianLink acquires mortgage software solutions provider OpenClose
MeridianLink says the deal will enable their customers “to deliver fast, frictionless mortgage lending experiences”.
Binance signals intent to acquire rival crypto exchange FTX
FTX’s CEO wrote on Twitter that a “strategic transaction” has been hashed out with Binance, pending due diligence.
SME financial services provider Finom buys cross-border paytech Kapaga
The merger will boost Finom’s UK and European expansion plans.
Ampla Technologies acquires B2B BNPL firm Upside Financing
Ampla says the acquisition will open up a B2B BNPL market that is worth an estimated $1 trillion.
Worldline to buy Banco Desio’s merchant acquiring activities for €100m
With the partnership, Worldline aims to leverage Banco Desio’s network to expand its presence in Italy.
US real estate platform Prevu buys mortgage tech from shuttered Reali
With the acquisition, Prevu aims to expand its digital buying platform to include mortgage services.
TIAA agrees to sell its banking arm to suite of investors
The firm says the move will allow it to “refocus” on its retirement business.
Bakkt set to buy Apex Crypto in deal worth up to $200m
Bakkt is aiming to “significantly bolster” its cryptocurrency product offering and serve more clients.
Paytech Form3 lands €23m venture debt facility from Atempo Growth
The funding will enable Form3 to explore potential M&A opportunities and launch in new markets.
eToro snaps up portfolio management platform Bullsheet
Bullsheet helps eToro users keep track of stocks and analyse the risk and diversification of their portfolio.
InComm Payments buys Australian gift card provider TCN
The firm says the acquisition will boost its ability “to create personable gift card products that consumers seek”.
Mexican B2B paytech Yaydoo acquires Oyster Financial
The acquisition, for an undisclosed sum, will also see Oyster CEO Vilash Poovala become Yaydoo’s new CTO.
Temenos cuts 2022 guidance, CRO leaves after just seven months
CRO Erich Gerber, who only joined the company in March, has left the business “effective immediately”.
US Bancorp gets US regulatory approval for MUFG Union Bank acquisition
The firm has received approval from the Federal Reserve and the Office of the Comptroller of the Currency (OCC).
Risk management fintech Kantox sold to BNP Paribas
The sale builds on a strategic partnership between Kantox and BNP Paribas inked in 2019.
Bank North sells lending business to LHV UK as it winds down operations
LHV UK’s parent, Estonian banking group LHV, is also an investor in Bank North.
OakNorth Bank buys 50% stake in specialist lender ASK Partners
Both firms say the transaction will enable them to continue providing “holistic” funding solutions to customers.
LatAm paytech Kushki acquires Mexico’s Billpocket
Kushki says Billpocket will help it grow its paytech business threefold in Mexico.
FinTech Futures: Top five stories of the week – 7 October 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Taiwan’s Taichung Commercial Bank to acquire American Continental for $82m
The transaction is expected to close in the first quarter of 2023, subject to regulatory approvals.
Banking Technology Magazine October 2022 issue out now
Cover story: INVESTING IN THE FUTURE – Putting money in the right places.
SME financing platform Rapid Finance acquires lendtech firm Thrive
Rapid Finance says Thrive “represents a significant addition” to the company.
$4.7bn Prosus acquisition of India’s BillDesk falls through
The acquisition deal was originally announced back in August 2021.
Global PSP Worldline obtains 40% stake in Dutch Online Payment Platform
OPP founder and CEO between them own the remaining 60% of the company.
Societe Generale set to buy majority stake in PayXpert
Societe Generale aims to broaden payment offerings for European merchants through the acquisition.
Tandem CEO Susie Aliker to step down, Alex Mollart to take over
Mollart is currently deputy CEO at the bank, having joined through the acquisition of Oplo.
Voyager Digital to sell its assets to FTX US for $1.4bn
Voyager Digital filed for bankruptcy protection back in July.
Billtrust snapped up by EQT Private Equity in $1.7bn deal
The deal, set to close in Q1 2023, will see Billtrust become a private company.
Capita to sell Pay360 to Access PaySuite in £150m deal
Capita says the deal will help lower the firm’s debt and provide additional liquidity.
Fitch Group to acquire majority stake in data and analytics firm dv01
The acquisition, for an undisclosed sum, is expected to close by the end of Q3.
Banc of California buys Deepstack Technologies for $24m
Banc of California paid $24 million for the acquisition, with 70% in cash and 30% in stock.
Enterprise tech provider NCR to split into separate digital commerce and ATM firms
NCR says the split will “unlock value” for the company’s shareholders.
FinTech Futures: Top five stories of the week – 16 September 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Western Union buys Brazilian digital wallet Te Enviei, eyes LatAm expansion
The company expects its products to go live in Brazil in the first half of 2023.
PAYA acquires card payment provider ITS
Interactive Transaction Solutions (ITS) is a business-to-business (B2B) payment gateway.
Bottomline acquires AP automation and real estate payments specialist Nexus Systems
Nexus’ procure-to-pay solution, customers and suppliers will join Bottomline’s Paymode-X B2B payments network.
JP Morgan to acquire US paytech firm Renovite
Once the acquisition is complete, Renovite will become part of JP Morgan Payments.
