Digital banking solutions provider Alkami buys data insight fintech Segmint for $135.5m
Alkami intends to integrate Segmint’s machine learning tech with its digital banking capabilities.
Mergers & Acquisitions/M&A
Tech giant Apple snaps up UK open banking firm Credit Kudos
Credit Kudos leverages machine learning to provide lenders an alternative to traditional credit scores.
FinTech Futures: Top five stories of the week – 25 March 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
B2B payment specialist PayTrace acquired by North American Bancard
The US’s sixth largest independent acquirer has snapped up the long-standing merchant gateway specialist.
London Stock Exchange Group sells BETA+ in $1.1bn deal
BETA, Maxit and Digital Investor (collectively known as BETA+) have been sold to Clearlake Capital and Motive Partners.
Trading Technologies acquires start-up RCM-X
RCM-X is a technology provider of algorithmic execution strategies and quantitative trading products.
Irish fintech Global Shares sold to J.P. Morgan
Global Shares is 40% owned by Motive Partners, which bought the stake in 2018 for $25 million.
Wolters Kluwer acquires International Document Services in $70m deal
IDS is expected to generate revenues worth approximately $15 million in 2022.
FX platform Currencies Direct receives £140m investment
The deal is expected to close by the end of Q1 2022.
Enterprise tech provider NCR buys open banking IP from UK fintech Spoke
NCR says the deal will accelerate its push into open and international digital banking.
Aussie BNPL firm Zip confirms Sezzle acquisition
The deal values Sezzle at approximately $360 million (AUD 491 million).
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Boku offloads ID verification division to focus on mobile payments
Boku CEO says the sale will allow the firm “to focus on developing our mobile payments solutions”.
Shift4 to acquire cross-border payments provider Finaro in $575m deal
The company also confirmed the acquisition of cryptocurrency fundraising platform The Giving Block.
Canada’s TD Bank snaps up First Horizon for $13.4bn in US expansion push
The combined entity will become a top six US bank, serving 10.7 million customers across 22 states.
Squirro signs European Central Bank, buys open.exchange, raises $4m
Zurich-based Squirro has raised $4m in equity funding from capital investment firm BuildGroup.
Pipe acquires Purely Capital to move into media and entertainment financing
Pipe claims to be “the creator of the world’s first trading platform for recurring revenues”.
TreviPay acquires fellow B2B paytech Baton Financial Services
Start-up Baton “has built a unique, innovative B2B invoice payments network”, TreviPay says.
London Stock Exchange acquires trading tech TORA for $325m
Founded in 2004, California-based TORA offers cloud-based trading technology solutions.
Core banking tech vendor Technisys acquired by SoFi Technologies
Technisys’ shareholders will receive 84 million shares of SoFi common stock worth $1.1 billion.
Financial “cockpit” for SMEs Ageras raises €30m
Denmark-based Ageras is “poised to become one of Europe’s next unicorns”, investors say.
Equitable acquires Concentra to become Canada’s seventh largest bank
Concentra Bank, including Concentra Trust and Wyth Financial, will join Equitable.
Private equity firm Madison Dearborn Partners to acquire MoneyGram for $1.8bn
The transaction is expected to close in Q4 2022.
Billtrust grows European presence with Order2Cash acquisition
Order2Cash is a B2B order-to-cash platform provider in the Netherlands.
FIS acquires embedded finance start-up Payrix
The Atlanta-based Payrix provides embedded payment solutions for Software-as-a-Service verticals.
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The unprecedented level of consolidation in the market may stoke fears that innovation will be stifled.
Trulioo acquires HelloFlow to create “end-to-end identity platform”
HelloFlow is a no-code builder of client onboarding, monitoring, and digital workflow solutions.
Fiserv acquires rival core vendor Finxact for $650m
Finxact was set up in 2016 to bring a modern, cloud-based alternative to the US market.
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Meta drops crypto project Diem due to regulatory roadblocks
The Diem Association has sold its intellectual property and tech assets to Silvergate Capital in a $182m deal.
Anti-fraud firm ClearSale acquires US tech start-up ChargebackOps for initial $3.6m
“Chargebacks are an enormous and growing problem for e-commerce merchants,” says ClearSale EVP.
German software firm SAP to acquire capital management fintech Taulia
Taulia will continue to operate as a standalone company under its own brand.
Paystone snaps up merchant services provider Canadian Payment Services
Paystone CEO Tarique Al-Ansari says the deal will “provide additional value to CPS merchants”.
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Aussie BNPL firm Zip confirms Sezzle takeover talks
The potential deal would follow a string of acquisitions by Zip over the past 18 months.
Walmart-backed Hazel snaps up fintech platforms Even and One in super app push
Walmart CEO says the app will allow users to “manage their money in one place”.
UBS agrees $1.4bn deal to acquire wealth management platform Wealthfront
Millennial and Gen Z-focused Wealthfront caters to “the next generation of investors”.
JP Morgan acquires 49% stake in European SME paytech Viva Wallet
JP Morgan says Viva Wallet is a “natural fit” for its payments business.
Financial crime fighter ACAMS acquired by PE firm Wendel for $500m
ACAMS has a global membership base of 90,000+ members in 175 countries.
Modifi acquires Seawise Capital’s trade finance and SaaS business in India
Modifi’s business in India has grown more than 2,100% over the past 18 months.
