Wealthtech Tifin acquires SharingAlpha to boost international presence
Following the acquisition, SharingAlpha will be fully integrated into Tifin’s Magnifi platform.
Mergers & Acquisitions/M&A
India’s M2P Fintech snaps up cloud lending firm Finflux
M2P Fintech plans on rolling out lending products “that are secure, scalable and cloud-ready”.
Creditas lands $50m Series F extension, acquires Andbank’s Brazilian banking licence
Firm hopes new licence will help diversify its sources of funding and grow its portfolio of credit products.
ING spins out digital post-trade market infrastructure tech to GMEX Group
GMEX intends to combine Pyctor with its MultiHub offering.
GoHenry acquires French fintech Pixpay to drive European expansion
Both firms will continue to operate under their own brands with no change in leadership or headcount.
eToro and FinTech V call off proposed SPAC merger
Neither party will be required to pay the other a termination fee, as the decision was mutual.
Nexo offers to buy crypto platform Vauld following “financial challenges”
The potential acquisition is pending a satisfactory outcome of the initiated due diligence process.
Dubai’s Careem acquires money transfer platform Denarii
Careem plans to offer “simple and affordable international remittance services” through its super-app.
GoCardless to buy Latvian open banking platform Nordigen
The deal is expected to close later in the summer.
iBanFirst snaps up UK foreign exchange provider Cornhill
The firm hopes the deal will help SMBs across Europe tackle Brexit-related payment challenges.
FinTech Futures: Top five stories of the week – 1 July 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Singapore’s Funding Societies acquires paytech CardUp
Funding Societies says that all of CardUp’s employees across Asia will be retained.
Flyp taps Galileo to power its mobile banking platform
Galileo’s solution will serve as the backbone for Flyp’s “gamified” BaaS platform.
India’s Lentra snaps up AI firm TheDataTeam
Lentra says it plans to integrate TDT’s behaviour intelligence platform Cadenz.
Data platform SAS acquires financial risk management firm Kamakura
Together, SAS’ and Kamakura’s solutions “will prove far greater than the sum of its parts”.
Marygold acquires Tiger Financial & Asset Management for UK expansion
Tiger’s core business is managing clients’ financial wealth across a range of products.
Raisin Bank acquires payments division from Bankhaus August Lenz
The acquisiton, for an undisclosed sum, will be headed up by Bankhaus payments veteran Mirko Siepmann.
India’s Pine Labs acquires API fintech start-up Setu
This is the third acquisition announced by Pine Labs this year.
US fintech Glia acquires chatbot platform Finn AI
With the acquisition, Glia aims to make virtual assistants “mainstream” for financial services companies.
Blockchain paytech Roxe to go public via SPAC merger in $3.6bn deal
Roxe will merge with Goldenstone Acquisition and become a publicly traded company on Nasdaq.
Intesa Sanpaolo sells Croatian merchant acquiring business to Nexi
The €180m deal forms part of a broader multi-year partnership in the merchant acquiring space.
Canada’s VersaBank acquires a Minnesota-based bank to fuel US growth
Upon closing, the bank will be renamed VersaBank USA National Association.
US proptech HomeLight acquires Accept, raises $115m at $1.7bn valuation
The acquisition of Accept will make HomeLight the largest agent-focused cash offer programme in the country.
Paytech PPRO hires Rahul Raswant as new chief financial officer
Raswant has held roles at Standard Chartered Bank and consultancy McKinsey.
Fintech for migrants Rewire acquires prepaid card provider Imagen
Imagen is Rewire’s first acquisition and will enable it to provide prepaid debit cards in Israel.
Banking start-up Fiinu to launch plug-in overdraft, list on LSE
Fiinu is set to be acquired by media company Immedia for approximately £37.5 million.
Nets sells invoicing and bill payment business EDIGard to PE firm AnaCap
EDIGard is headquartered in Norway and operates across Sweden, Denmark, Finland, UK and Germany.
MDXT acquires low-code/no-code SaaS workflow solution Iceflow
Iceflow creator Graham Denyer will join MDX Technology as CTO.
Nexi sells capital markets tech business to Euronext for €57m
Nexi is selling its tech businesses that are powering MTS and Euronext Securities Milan to Euronext.
Mortgage tech firm Twenty7Tec takes over Bluecoat Software
The acquisition is “set to revolutionise both the wealth and mortgage technology markets”, the firms say.
Fleetcor to acquire cross-border paytech Global Reach
Fleetcor has signed a definitive agreement to acquire UK-based Global Reach Group.
Razer Fintech acquires Indonesian paytech E2Pay in a bid to expand
With this acquisition, Razer Fintech says it marks its further expansion into Indonesia.
Money 20/20 Europe: Mastercard’s open banking guru on payments and data
Jim Wadsworth discusses working with fintechs, open banking, becoming a paytech and safeguarding data.
Ximedes acquires fellow Dutch fintech Ginger for European expansion
Ximedes, a Dutch software firm, has acquired Ginger, an Amsterdam-based online payment platform provider.
Credit unions comms platform Eltropy acquires video banking tech firm POPi/o
Together, Eltropy and POPi/o serve more than 400 credit unions in the US.
US-based paytech GTP acquired by MFS Africa
Following a $100m funding round last year, MFS Africa acquires US-based paytech GTP.
Banking Technology Magazine June 2022 issue out now
Cover story: THE WORLD BEYOND – Connecting through the metaverse.
A2A paytech Trustly buys open banking platform Ecospend
Trustly is aiming to boost its footprint in the UK market, which it says “presents a dynamic ecosystem”.
iCapital expands its platform with Simon Markets acquisition
The deal is expected to close in the second half of 2022 pending regulatory approvals.
Payments infrastructure provider Paddle snaps up ProfitWell for $200m
Paddle will integrate ProfitWell’s financial metrics, as well as its pricing and retention software.
