FinTech Futures: Top five stories of the week – 8 December 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Mergers & Acquisitions/M&A
Coventry Building Society reportedly eyeing Co-operative Bank takeover
Sky News reports that if the deal goes through, the combined entities will manage nearly £90bn in assets.
US stock trading app Webull enters Mexico with Flink acquisition
The deal also includes Mexican brokerage house Vifaru Casa de Bolsa, which Flink agreed to purchase in 2022.
ASR Nederland explores sale of digital bank Knab
ASR first acquired the brand in July this year after buying up Aegon’s domestic operations in the Netherlands.
FinTech Futures: Top five stories of the week – 24 November 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Irish paytech NomuPay acquires UK-based PSP Total Processing
Total Processing provides payment solutions to merchants in Europe, North America and MENA.
US credit card fintech Petal reportedly eyeing potential sale
According to a report by Fortune, sources say the start-up has received multiple offers for acquisition.
Google parent company Alphabet in talks to seize major stake in UK challenger Monzo
Monzo could close its latest round of funding before the end of the year as it eyes up a potential IPO.
Advent International snaps up UK paytech myPOS
The deal will be completed through Advent’s new payments company, AI Circle Bidco.
Nuvei reportedly snaps up Aussie paytech Till Payments for $30.5m
The paytech was valued at $350 million only seven months ago.
Fintel makes double acquisition of VouchedFor and AKG for combined £9.1m
The deals mark Fintel’s third and fourth acquisitions of the year, following deals for Micap and Competent Adviser.
Levenue lands €8m Series A funding from Truffle Capital, acquires Cake
Levenue provides a marketplace for subscription-based businesses to connect with investors and access financing.
Regulators should greenlight more M&A among banks and fintechs to avoid bankruptcies
Consolidation and M&As can create an environment where dynamic regional banking ecosystems can flourish.
Trading solutions provider CQG agrees to executive ownership deal
The company’s acquisition by its senior executives is expected to be completed this month.
Canadian Tire reacquires Scotiabank’s 20% stake in its financial services arm in $650m deal
Scotiabank first bought its 20% stake in May 2014 for around $460 million.
FinTech Futures: Top five stories of the week – 10 November 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
US business payment platform Bill reportedly closing on $1.95bn deal to acquire Melio
Bloomberg reports that an official announcement regarding the potential acquisition could arrive within a week.
What the FinTech? | S.4 Episode 20 | SPAC to the future
In this episode of the podcast, we’re joined by Betsy and Daniel Cohen, co-founders of Cohen Circle.
SimCorp in merger with Axioma following Deutsche Börse takeover
SimCorp and Axioma are both subsidiaries of the Deutsche Börse Group.
Aussie SME lender Earlypay acquires Timelio’s $40m loan portfolio and assets
The portfolio comprises $35 million in invoice finance and a further $5 million in trade finance.
US fintech Bond.AI snaps up Elastech to bolster cloud and data offerings
As part of the acquisition, Elastech CEO Scott Llewelyn will join Bond.AI to lead its professional services division.
Intuit to merge personal financial management subsidiary Mint into Credit Karma
Intuit first acquired Mint for $170 million back in 2009.
FinTech Futures: Top five stories of the week – 3 November 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
European Payments Initiative completes acquisitions of iDEAL and Payconiq International
The acquired solutions will boost the development of EPI’s digital wallet Wero, which is launching next year.
Brazil’s QI Tech raises $200m in Series B funding round
The cash will be put towards product development and exploring merger and acquisition opportunities.
Kasikorn Bank snaps up 97% stake in cryptocurrency exchange Satang for $103m
Satang Corporation is to be rebranded as Orbix Trade Company with three new subsidiaries.
Stax Payments expands tech stack with APPS acquisition
APPS’ CEO Abe Maghaguian and COO Sarah Gerald will join the Stax leadership team as part of the deal.
UK challenger Monzo reportedly in talks to sell £300m stake at £3.5bn valuation
According to Sky News, Monzo is in discussions with a number of blue-chip investment funds over a share sale.
BBVA merges its three tech subsidiaries to form BBVA Technology
The bank says the new company will have “a more strategic focus” on software development transformation.
Airwallex enters Latin America with MexPago acquisition
Airwallex says the deal is an important part of its broader growth strategy in the Americas.
Indian fintech Aurionpro acquires loan management system Omnifin for $9.8m
Aurionpro says the deal “significantly accelerates” its ambitions to take its lending solutions into new markets.
Block acquires musician-focused fintech start-up Hifi
The deal is thought to complement Block’s 2021 acquisition of Jay Z’s music streaming service Tidal.
Paytech NMI acquires Sphere’s commercial division to boost underwriting and risk management capabilities
NMI provides payment gateway and processing solutions to businesses looking to diversify their payment methods.
FinTech Futures: Top five stories of the week – 13 October 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
GreenSky sold to Sixth Street-led investor consortium, Goldman Sachs confirms
The consortium consists of funds and accounts managed by KKR, Bayview Asset Management and CardWorks.
Fiserv snaps up Brazilian EFT software distributor Skytef
Skytef has been distributing Fiserv’s electronic funds transfer solution SiTef since 2002.
Paytech Medius taps acquired Expensya talent for two new senior appointments
Medius announced its acquisition of the expense management software company Expensya back in June.
HSBC acquires Citi’s $3.6bn consumer wealth portfolio in China
The deal is expected to close in H1 2024, with HSBC planning to extend offers to “in-scope employees” in China.
Francesca Carlesi steps down as CEO of digital mortgage lender Molo
Carlesi is to depart Molo, which she has led since its inception in 2018, on 25 November 2023.
Rauva appoints Tomas Oliveira da Silva as chief risk officer
He joins from DF Capital, a UK-based savings and lending bank, where he served as CRO for nearly three years.
