Wirecard sells assets in Brazil to PagSeguro
The deal is subject to approvals by the Brazilian Central Bank and antitrust authorities.
Mergers & Acquisitions/M&A
Goldman Sachs & Barclays among bidders for GM’s credit card business
GM’s credit card business has about $3 billion in outstanding balances.
FXPress agrees acquisition of Avila House
The deal enables FXPress customers access to multi-currency IBAN accounts.
American Express acquires SoftBank-backed Kabbage
Reports earlier this month put the value of the acquisition at up to $850 million.
European Commission approves Mastercard’s €2.85bn Nets deal
Third party firm to receive an exclusive licence for Nets tech to lower anticompetition fears.
Amazon in talks to invest in cloud services company Rackspace
The deal would involve Amazon acquiring a minority stake in Rackspace.
American Express looks to buy US fintech lender Kabbage
Kabbage was last valued at more than $1 billion.
BankMobile sells for $35m less than failed deal three years ago
BankMobile was supposed to be acquired back in 2017.
ICE agrees $11bn Ellie Mae acquisition
Exchange operator aims to boost its nascent mortgage business.
CMA blocks FNZ-GBST merger over competition concerns
UK regulator worried merger may prevent new entrants scaling up in the UK.
Apple acquires payments firm Mobeewave in $100m deal
Apple buys start-up to turn iPhones into payment terminals.
LSE considers sale of Borsa Italiana to appease regulators
LSE exploring options to push through $27 billion acquisition.
UAE’s Network International to buy Nairobi fintech DPO Group
DPO is the largest online commerce platform operating across Africa.
Enova International acquires struggling lender OnDeck in $90m deal
OnDeck has suffered in the wake of the COVID-19 pandemic.
Venture capital firm Ribbit plans $600m fintech Spac
Bow Capital Management is also aiming to raise $350m for a tech focused Spac.
Paysafe acquires US payments firm Openbucks
Paysafe looks to grow its core offering across the US.
Brazilian challenger Nubank acquires firm behind Clojure and Datomic
Cognitect snapped up by Brazilian neobank.
Kenyan lender I&M to become majority owner of Uganda’s Orient Bank
Last year, Orient Bank reported a net loss equivalent to $284,374.
Tink continues acquisition play with credit decisioning platform Instantor
Instantor employees a team of 26.
What the Fintech? Episode 9 | Open banking: entering the mainstream
Coconut CEO, Sam O’Connor, shares his insight on the Plaid and Finicity acquisitions.
Web browser Opera to buy digital challenger Fjord Bank
In December 2019, the digital challenger landed a specialised bank licence.
Banking Technology July/August 2020 issue out now
Unlocking the benefits of open banking.
Paytm to buy insurance firm Raheja QBE for $76m
Raheja QBE has around 41,000 customers.
Lending Works acquired by Intriva Capital
Intriva has bought 100% of Lending Work’s equity for an undisclosed price.
Monte dei Paschi explores merger plan with Banco BPM
World’s oldest bank looking to bulk up its resources.
Société Générale to acquire French neobank Shine
The deal is thought be be around €100 million.
Mobile money gateway MFS Africa acquires Beyonic for SME play
The value of the acquisition has not been disclosed.
Italy’s Generali considers Brightsphere acquisition in US
The insurance giant is looking to expand its US footprint.
PictureWealth lands AUD 12m and seals acquisition
The company has acquired NEO Financial Solutions (NFS) for an undisclosed sum.
Mastercard set to acquire Finicity for $825m
This follows a similar acquisition of Plaid by rival Visa in January.
LSE-Refinitiv merger under competition spotlight from EC investigators
The European watchdog has concerns about the $27bn merger.
Intesa Sanpaolo pushes for UBI Banca acquisition
The verdict next month will reveal if the acquisition can go ahead.
COVID-19: will fintechs crash, survive or get bought?
What can fintech firms do to ride out the storm?
UK regulator probes Visa’s acquisition of Plaid
The UK’s CMA is looking into potential anti-competitive implications.
Credit Sesame acquires Canadian challenger Stack for international expansion
The US loans company is absorbing all Stack employees.
Greensill acquires Colombian fintech Omni to turbocharge LatAm growth
Omni operates across Chile and Colombia.
Square buys up Spanish P2P payment app Verse
Verse will join forces with Square’s Cash App.
IBM returns to M&A market with cloud acquisition
The acquisition is IBM’s first since its $34bn buyout of Red Hat in 2018.
What the Fintech? Episode 7 | Open banking & savings
Co-founder & CEO of Plum offers his insights on how COVID-19 affects savings.
Metro Bank in talks to acquire UK P2P lender RateSetter
RateSetter would be bought up at “a knockdown valuation”.
