Paystand buys Teampay to enhance B2B payments platform with corporate spend management
Partially financed by Stifel Venture Banking, the deal marks Paystand’s second acquisition in two years.
Mergers & Acquisitions/M&A
FinTech Futures: Top five news stories of the week – 26 April 2024
Our pick of the top fintech news stories this week includes Monese, Temenos, Synapse and more.
Enigmatic Smile buys Fidel API’s loyalty business
The sale, for an undisclosed sum, includes all assets associated with Fidel’s loyalty business.
Indian fintech Aurionpro bolsters AI portfolio with $16.5m takeover of Arya.ai
Arya.ai offers a cloud-based PaaS that enables enterprises to develop their own AI solutions.
Thunes to boost US footprint with acquisition of Tilia
Tilia is to rebrand as Thunes and maintain operations from San Francisco.
Goldman Sachs sells Marcus Invest’s digital investing accounts to Betterment
The deal includes Marcus Invest’s accounts and assets under management.
JTC to acquire First Republic Trust Company of Delaware from JP Morgan for $21m
JP Morgan has controlled the unit since its takeover of First Republic Bank last May.
TabaPay to acquire assets of struggling BaaS fintech Synapse
Synapse previously filed for Chapter 11 voluntary bankruptcy and laid off over 50% of its workforce last year.
Karma Wallet acquires sustainability marketplace DoneGood ahead of card and membership programme launch
The sustainability spending fintech is to integrate the DoneGood marketplace into its company ratings platform.
Luxury investments platform Konvi acquires competitors Diversified and Fractible
All investments in Diversified and Fractible will be transferred to Konvi this month.
Coventry Building Society and Co-op Bank agree terms over potential £780m acquisition deal
The proposed merger will create a combined group boasting a balance sheet of around £89 billion.
FinTech Futures: Top five news stories of the week – 19 April 2024
Our pick of the top fintech news stories this week includes Klarna, Ramp, Zopa and more.
Wintrust Financial Corporation acquires Macatawa Bank for $510m
Founded in 1997, Macatawa Bank manages a network of 26 full-service branches across Michigan, USA.
EQT to sell data management tech firm Rimes to Five Arrows
The parties say they expect the transaction to close “in the coming months”.
FinTech Futures: Top five news stories of the week – 12 April 2024
Our pick of the top fintech news stories this week includes Linqto, HSBC, Santander and more.
Alisa Bank snaps up invoice financing fintech Puro Finance to bolster SME services
Puro Finance is expected to operate as a subsidiary of the bank upon closure of the deal in May.
Spendesk combines procurement with spend management through Okko acquisition
Spendesk claims it is the first solution in Europe to combine both spend management and procurement.
Linqto to go public via $700m SPAC merger with BCSA
The deal is set to close in H2 2024, with Linqto to operate as a wholly-owned subsidiary of BCSA.
Empower Finance strikes deal to buy Petal with Cashalo acquisition completed
The deal for Petal is expected to close later this quarter for an undisclosed sum.
UK fintech Gresham Technologies to be acquired by STG Partners for £147m
The acquisition is expected to close by the third quarter of 2024.
UBS and SuMi Trust joint venture to acquire Credit Suisse wealth management business in Japan
The JV will absorb Credit Suisse’s Japanese advisor base and wealth management assets.
HSBC to sell Argentinian banking arm to Grupo Financiero Galicia for $550m
The deal is expected to be finalised within the next 12 months.
Tradeweb to acquire wealthtech ICD in $785m deal
The all-cash deal is expected to close in the second half of 2024.
French fintech Linedata acquires AI software developer DreamQuark
Linedata says the purchase will extend its reach to the “critical sectors” of asset management, insurance and credit.
FinTech Futures: Top five news stories of the week – 5 April 2024
Our pick of the top fintech news stories this week includes Nuvei, Westpac, iCapital and more.
Banking Technology Magazine April 2024 issue out now
Core story: GOLD GETTERS – The Olympics and fintech make the perfect team.
iCapital set to acquire investment data firm Mirador
The deal is due to expand iCapital’s data management and reporting capabilities.
Nuvei snapped up by Advent International in $6.3bn deal
The Canadian paytech expects the acquisition to close by “late 2024 or the first quarter of 2025”.
Risk management specialist Abrigo snaps up TPG Software for investment accounting tech
The acquisition will boost the growth of Abrigo’s existing suite of technical accounting solutions.
ieDigital, Connect FSS and Abaka to integrate under single identity with Rami Cassis named new CEO
The companies have until now operated as three separate divisions led by CEO Jerry Young, who is set to retire.
Bulgaria’s Paynetics acquires UK neobank Novus
Founded in 2020, Novus is the UK’s first B-Corp certified digital bank.
Fintel acquires an initial 70% stake in UK start-up ifaDASH
Fintel has a two-year option to purchase the remaining 30% stake in ifaDASH for an agreed multiple of EBITDA.
FinTech Futures: Top five news stories of the week – 22 March 2024
Our pick of the top fintech news stories this week includes Nuvei, Silverbird, nCino and more.
Digital identity specialist Signicat acquires Icelandic counterpart SmartWorks
SmartWorks is Signicat’s sixth acquisition since the arrival of new owner Nordic Capital, in 2019.
UK fintech Railsr approaches Equals Group over potential merger
Equals Group has confirmed it received an “indicative non-binding proposal” about a potential deal.
7IM expands UK footprint with acquisition of Eastcote Wealth Management
The acquisition will give 7IM a base in the Midlands to broaden the reach of its operations.
Nuvei evaluating bids for potential buyout with Advent reportedly leading the race
The Canadian paytech says “no decision has been made at this time” regarding a potential deal.
Cloud banking tech provider nCino acquires DocFox to streamline account opening
DocFox provides account opening software built to help simplify the customer onboarding process.
GoCardless signs deal with EML Payments to acquire Nuapay
EML has owned Nuapay since 2021, when it purchased the company in a €110 million deal.
Anna Money acquires Aussie business spend management fintech GetCape
With the deal, Anna Money says it plans to introduce a “smart business current account and debit card”.
