Bain Capital to acquire US fintech Envestnet in $4.5bn deal
Reverence Capital is also participating in the transaction, alongside a consortium of additional investors.
Mergers & Acquisitions/M&A
Supply chain fintech TASConnect snaps up Solv Malaysia and Solv Vietnam
The acquisition of Solv Malaysia has been completed, while the Solv Vietnam purchase remains ongoing.
Bain Capital reportedly closing in on deal to acquire Envestnet
The potential deal could be announced as early as this week, according to a report by Reuters.
FinTech Futures: Top five news stories of the week – 5 July 2024
Our pick of the top fintech news stories this week includes Revolut, BlackRock, Project Nexus and more.
Fintel snaps up Threesixty from Abrdn in £14.6m deal
Threesixty will remain an independent business, maintaining its own offerings and pricing in the market.
Barclays sells German consumer finance business to Austria’s BAWAG to refocus on “key businesses”
The sale is expected to release around €4 billion in RWAs for Barclays as it seeks business simplification.
German fintech Vivid Money buys Pile’s treasury solution
Vivid Money is looking to expand its Vivid Business offering for SMEs launched at the start of the year.
Dutch payments firm MultiSafepay acquired by Ant International
Ant International will integrate the company with its payments and digitisation solutions unit Antom.
Germany’s Taxfix Group secures UK market entry with TaxScouts acquisition
Launched in 2018, the TaxScouts platform connects self assessment tax filers with a network of accredited accountants.
Robinhood buys AI-powered investment research platform Pluto Capital
The deal comes less than a month after the digital trading platform announced its $200 million purchase of Bitstamp.
Chime acquires employee rewards start-up Salt Labs
Salt Labs’ CEO Jason Lee will take charge of the neobank’s new Chime Enterprise division.
TeamSystem acquires 61% majority stake in Italian SME credit mediator Change Capital
The acquisition will expand TeamSystem’s remit with over 200 financial solutions for credit and subsidised finance.
BlackRock to acquire private markets data provider Preqin for $3.2bn
The deal will see Preqin’s data and research tools merge with BlackRock’s portfolio management platform Aladdin.
FinTech Futures: Top five news stories of the week – 28 June 2024
Our pick of the top fintech news stories this week includes Klarna, iBusiness Funding, Norm Ai, Nubank and more.
June 2024: Top five M&A deals of the month
FinTech Futures takes a look back at five of the top M&A deals in June.
June 2024: Top five AI stories of the month
FinTech Futures takes a look back at five of the top AI stories from June.
Brazil’s Nubank buys AI-powered data intelligence start-up Hyperplane
Nubank plans to harness Hyperplane’s AI expertise to enhance its core machine learning capabilities.
iBusiness Funding snaps up Funding Circle’s US business for £33m
Funding Circle first announced the planned sale in March and expects to close the transaction this month.
Klarna sells checkout business to investor consortium
The deal is reportedly valued at around $515 million.
Global Payments acquires UK’s Takepayments for undisclosed sum
Global Payments has reportedly been eyeing up the purchase since February.
Sainsbury’s sells core banking business to NatWest
The deal includes the retailer’s personal loan, credit card and retail deposit portfolios.
Société Générale sells neobank Shine to Danish fintech Ageras
Société Générale has been looking for a buyer for Shine since January.
Abacus Group acquires Tribeca Technology Group to strengthen UK presence
The acquisition follows Abacus’ GoVanguard purchase last year.
JP Morgan and WeRealize settle Viva Wallet lawsuit
The outcome “could allow Viva to be sold soon”, according to JP Morgan.
Shift4 snaps up majority stake in German POS firm Vectron Systems AG
Shift4 plans to buy “additional ownership of Vectron” through a public tender offer.
FinTech Futures: Top five news stories of the week – 14 June 2024
Our pick of the top fintech news stories this week includes Starling Bank, Mastercard, Bink and more.
US rental fintech Stake acquires Circa in $9.5m deal
The cash and stock deal was completed earlier this month.
Agora acquires Clear shift’s real estate division
Clearshift is to continue managing the division’s payment and compliance functions.
Pennsylvania’s Vertex purchases AI tax capabilities from Ryan
Vertex claims the deal will enhance its “AI innovation strategy”.
Danish fintech Ageras to make “1-2 major acquisitions” ahead of 2026 IPO
The Copenhagen-based start-up claims to have experienced revenue growth of 53% in 2023.
AlphaSense acquires rival Tegus for $930m, valuation tops $4bn
AlphaSense has raised $650 million in conjunction with its latest purchase.
Finseta offloads non-trading subsidiary Capital Currencies to undisclosed buyer for £150,000
Finseta initially acquired the subsidiary in 2022 for £586,000, with a maximum total consideration of £3 million.
FinTech Futures: Top five news stories of the week – 7 June 2024
Our pick of the top fintech news stories this week includes Visa, Monzo, JP Morgan Payments, Funding Circle and more.
Robinhood to acquire Bitstamp in $200m deal
Robinhood set to leverage Bitstamp’s 50+ global licenses to fuel its planned expansion.
CSG acquires Florida-based paytech iCG Pay in $17m deal
The deal also includes additional earn-out sums tied to performance goals.
California’s CBC Bancorp to acquire Bay Community Bancorp for $122m
CBC Bancorp will purchase Bay Community Bancorp in an all-cash deal valued at $14 per common share.
FinTech Futures: Top five news stories of the week – 31 May 2024
Our pick of the top fintech news stories this week includes HSBC, XYB, ABN Amro and more.
Intelligent Money enters administration with key assets sold to digital savings platform Quai
Richard Heis and Edward Boyle of Interpath Advisory were appointed as joint administrators on 28 May.
IPC appoints Kurt Adams as new CEO
Adams will succeed Bob Santella following his six-year tenure in the role.
May 2024: Top five M&A deals of the month
FinTech Futures takes a look back at five of the top M&A deals in May.
