2021: Top five mergers and acquisitions
FinTech Futures takes a look back at some of the year’s top mergers and acquisitions.
Mergers & Acquisitions/M&A
Rocket Companies to acquire personal finance app Truebill for $1.275bn
Truebill claims 2.5 million members and has doubled its user base in the last year.
MoneyLion acquires embedded finance marketplace Even Financial for $440m
The acquision is expected to add $90m of revenue for MoneyLion.
Canada’s BMO acquires Bank of the West from BNP Paribas in $16.3bn deal
BMO describes the acquisition as the “natural next step” in its North American growth strategy.
Challenger banking player Monese makes its first acquisition
Monese has acquired Trezeo, a specialist financial services platform for the self-employed.
Private equity firm Thoma Bravo snaps up US fintech Bottomline in $2.6bn deal
The agreement will see Bottomline’s shareholders receive around $57 per share in cash.
Brazilian payments platform Ebanx acquires remittance start-up Remessa Online for $229m
The deal comes less than two months after the firm picked up B2B fintech Juno to drive expansion.
India’s Open buys neobanking start-up Finin in $10m deal
Open CEO Anish Achuthan says the acquisition will complement his firm’s BankingStack enterprise offering.
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US paytech Flywire enters UK education market with WPM acquisition
The acquisition will build on Flywire’s existing education payments business.
Mercado Libre muscles into Chilean paytech space with Redelcom acquisition
Mercado Libre says it is looking to “consolidate its value proposition in Chile”.
Ameris Bank adds to lending portfolio with Balboa Capital acquisition
Ameris Bank resources will allow Balboa to expand its offering, says Balboa CEO.
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UK SME lender OakNorth acquires cashflow forecasting solution Fluidly
Since its launch in September 2015, OakNorth Bank has lent over £6.5 billion to SMEs.
Aussie fintech Finder secures first capital injection worth $22m
Finder co-founder Fred Schebesta says the company has been “bootstrapped since day one”.
UK paytech Rapyd acquires Neat for Asian expansion
Neat provides a cross-border trade enabling platform for small businesses and start-ups.
Westpac acquires money management app MoneyBrilliant
MoneyBrilliant’s technology will be integrated into Westpac’s digital banking app.
WeLab to launch new digital bank in Indonesia following BJJ acquisition
WeLab has raised $240m to fund the acquisition – “the largest fintech funding in Indonesia in 2021”.
Start-up Quantile acquired by London Stock Exchange Group
LSEG will pay a maximum aggregate consideration of up to £274 million to Quantile’s shareholders.
Wealthtech FNZ acquires client onboarding tech vendor Appway
Hanspeter Wolf, CEO and founder of Appway, will become FNZ’s CTO.
Tutuka and Paymentology merge to create new paytech “powerhouse”
The merger will “create the world’s first global issuer-processor spanning 49 countries”.
Numerated acquires fellow fintech Fincura
Numerated is “building the future of business banking”, founder and CEO states.
Regtechs PassFort and kompany acquired by Moody’s Corporation
Both companies will be integrated into Moody’s KYC business within Moody’s Analytics.
Finastra offloads Fusion Summit treasury business in China, Macau and Hong Kong
The buyer is CloudWing Network Technologies, a subsidiary of Hundsun Technologies.
Republic to buy Seedrs to create global private investment player
The $100 million deal brings together the US and UK-based partners.
Abrdn to acquire online investment platform Interactive Investor in £1.49bn deal
Abrdn had previously confirmed it was in talks to acquire the company in November.
Tinkoff adds to business ecosystem with Jump.Finance
Russian bank buys controlling stake in self-employed contractor payment automation software specialist.
Mastercard acquires Latin American Start Path protégé Arcus
The payments specialist will aid introduction of Mastercard Bill Pay to Latin America.
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FairXchange marks United Fintech’s third acquisition in its first year
London company completes busy first 12 months as it builds a capital markets solutions business.
Allica Bank makes first major acquisition with AIB’s GB SME lending portfolio
Deal will bring the challenger bank around 2,000 SME customers.
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Cloud banking provider nCino to acquire mortgage neolender SimpleNexus
Finserv provider says acquisition is a “natural expansion” of its digital banking platform.
US Bancorp to buy expense and travel management partner TravelBank
The deal is expected to close before the end of the year.
Oportun to buy neobank Digit in $213m deal
Acquisition intended to accelerate Oportun’s expansion plans by three to five years.
Zip completes acquisition of Czech BNPL firm Twisto
The move will grant Zip access to the EU market from its UK springboard.
Patriot Bank to acquire American Challenger and adopt its tech stack
Patriot will migrate to American Challenger’s technology platform.
BM Technologies to acquire First Sound Bank
The deal is expected to close in the second half of 2022.
Cybersecurity platform Immersive Labs acquires US start-up Snap Labs
“The two platforms are a natural fit,” says Snap co-founder Chris Myers.
Business paytech Bottomline adds straight through processing with Bora acquisition
Virtual card payments made via STP cut costs and time, Bottomline says.
