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.
Mergers & Acquisitions/M&A
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”.
United Fintech reshuffles leadership in push to drive growth
The restructuring will involve members of three of the five acquisitions it has made in the last four years.
Levenue snaps up MidFunder to broaden financing in Switzerland
The acquisition will enable Levenue to boost the footprint of its revenue-based financing marketplace.
France’s Request Finance acquires crypto accounting fintech Consola Finance
The purchase is set to bolster Request Finance’s platform with crypto-specific accounting functions.
Spain’s Amadeus looks to streamline travel payments with Voxel acquisition
Amadeus says its new purchase will “complement” its existing payments business Outpayce.
Razer Fintech and Razer Merchant Services rebranded to form standalone subsidiary Fiuu
Fiuu will now operate independently of Razer, providing payment services for businesses in Southeast Asia.
FinTech Futures: Top five news stories of the week – 8 March 2024
Our pick of the top fintech news stories this week includes Fiserv, Monzo, Virgin Money and more.
Qonto snaps up finance automation start-up Regate to bolster accounting services
The acquisition will enable Paris-based Qonto to expand its offering to accounting firms.
Nationwide Building Society set for £2.9bn takeover of Virgin Money
The deal has yet to be finalised and Nationwide has until 4 April to put a final offer forward.
Fiserv reportedly in the running to acquire Shift4 Payments
According to a recent Reuters report, final bids for a potential takeover are due to arrive in the coming weeks.
UK challenger OneBanx appoints Javed Anjum as new CEO
Anjum’s joins directly from the Glory Group, where he served as innovation programme director.
