AlphaSense acquires rival Tegus for $930m, valuation tops $4bn
AlphaSense has raised $650 million in conjunction with its latest purchase.
Mergers & Acquisitions/M&A
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.
Stripe’s Paystack leads investor group set to acquire Nigerian fintech start-up Brass
Other members of the investment group include PiggyVest, Ventures Platform and P1 Ventures.
HPS set to acquire digital banking and payment software provider CR2
The deal will see CR2’s BankWorld platform combined with HPS’ PowerCard suite.
ABN Amro acquires Germany’s Hauck Aufhäuser Lampe in €672m deal
The deal is expected to close in Q1 2025 pending regulatory approvals.
Spanish paytech PayRetailers acquires Transfeera to drive Brazilian expansion
PayRetailers recently received its Brazilian payment institution (PI) licence last month.
FE fundinfo snaps up wealth management fintech Dericon
The deal marks FE fundinfo’s seventh acquisition in three years.
First Abu Dhabi Bank reportedly in discussions to acquire Yapi Kredi from Turkey’s Koc Group
Koc Group has held a stake in the Istanbul-based full-service bank since 2005.
Open finance fintech Fabrick to acquire finAPI from Germany’s Schufa
Fabrick is to leverage its latest purchase to expand its presence into the DACH region.
EFG Hermes snaps up minority stake in AI digital wealth manager Kenzi Wealth
EFG Hermes has also signed an MoU with Kenzi to enhance its EFG Hermes One trading platform.
Alpian’s $83m Series C round sees Intesa Sanpaolo’s Fideuram become majority shareholder
Fideuram first made a $20 million investment in Alpian back in 2022.
UK challenger Chetwood Financial acquires lender CHL Mortgages for Intermediaries
Chetwood states that the purchase will complement its forthcoming ModaMortgages proposition.
BNP Paribas set to buy French life insurance business Neuflize Vie from ABN Amro and AXA
Neuflize Vie was founded in 1990 as part of a joint venture between AXA and ABN Amro.
FinTech Futures: Top five news stories of the week – 17 May 2024
Our pick of the top fintech news stories this week includes BBVA, Deutsche Bank, Lemonway and more.
AI-powered regtech Cube acquires global regulatory intelligence enterprises from Thomson Reuters
Through this acquisition, Cube aims to “set a new bar for the industry in regulatory automation”.
Broadridge acquires Securities Industry Services business from Kyndryl
Kyndryl will provide the SIS business operated under Broadridge Canada with managed services.
TabaPay pulls the plug on proposed deal to acquire Synapse assets
The company previously announced its intention to purchase Synapse’s assets last month.
BBVA makes $13bn hostile takeover bid for Banco Sabadell
Banco Sabadell’s board had previously rejected an offer from BBVA claiming it significantly undervalued the company.
Corpay to purchase AP automation platform Paymerang from Aldrich Capital for $475m
The transfer of Paymerang from Aldrich Capital to Corpay is expected to close this quarter.
Basware acquires invoice management and statement reconciliation platform AP Matching
The acquisition will also see Basware integrate AP Matching’s managed services division.
South African fintech Lesaka snaps up Adumo in $86m deal
The acquisition is expected to be finalised in the third quarter of 2024.
Turkish fintech Iyzico acquires Paynet in $87m deal
Iyzico plans to integrate Paynet’s B2B payments and collections solutions.
Ireland’s Corlytics snaps up Deloitte UK regtech platform
The regtech platform helps institutions manage, structure, and source compliance and regulatory change.
Digital challenger GoTyme Bank acquires salary lender fintech SAVii
GoTyme Bank’s acquisition claims to serve over 500,000 employees across 150 Philippine enterprises.
FinTech Futures: Top five news stories of the week – 3 May 2024
Our pick of the top fintech news stories this week includes Goldman Sachs, HSBC, Microsoft and more.
Banking Technology Magazine May 2024 issue out now
Cover story: PLASTIC MEASURES – Banking must follow a more sustainable path.
Nayax acquires Brazilian paytech VMtecnologia to propel LatAm expansion
The deal has a total potential consideration of up to $27 million based on certain conditions.
Barclays reportedly leading the race to take over GM credit card programme from Goldman Sachs
Barclays was a bidder for the programme back in 2020 before Capital One eventually sold it to Goldman.
UMB Financial Corporation acquires Heartland Financial in $2bn deal
The firms expect the deal to be finalised in the first quarter of 2025.
Delta Capita buys Client On-Boarding solution from LSEG
LSEG is to continue using the solution as a client of Delta Capita.
Denmark’s Ageras raises €82m earmarked for new acquisitions
The latest round takes Ageras’ total funding to date to nearly €200 million.
Republic First Bank closed and sold to Fulton Bank by US regulators
Fulton Bank will “assume substantially all of the deposits and purchase substantially all of the assets” of the bank.
