Equitable acquires Concentra to become Canada’s seventh largest bank
Concentra Bank, including Concentra Trust and Wyth Financial, will join Equitable.
Mergers & Acquisitions/M&A
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.
In an era of consolidation, will fintech retain its spirit of innovation?
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.
Video: fintech news pick of the week – Diem, SAP & FTX
Our top pick of news from the world of finance and tech in bitesize video format, every week.
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”.
Video: fintech news pick of the week – UBS, Katana Labs and Walmart
Our top pick of news from the world of finance and tech in bitesize video format, every week.
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.
Zafin acquires fellow Canadian fintech Fincad
Together, Zafin and Fincad will become “one of Canada’s largest B2B fintech companies”.
Fifth Third snaps up green energy lendtech Dividend Finance
Dividend Finance offers financing solutions for renewable energy focused home improvement projects.
Open banking fintech Plaid acquires ID verification platform Cognito
The acquisition completes the customer onboarding experience, says Plaid CEO.
BlueVine sells its founding invoice factoring business to Canadian rival FundThrough
The acquisition fast tracks the FundThrough’s expansion efforts in the US market.
United Fintech acquires 25% stake in asset management platform Athena
The multi-stage acquisition deal is the company’s fourth acquisition in 14 months.
Brex hires Meta product head Karandeep Anand as CPO, lands $300m funding
Since its founding in 2017, Brex has raised a total of $1.2 billion.
Consolidation of the BNPL industry: what does it mean?
With regulation on the horizon, the BNPL sector is seeing a number of cross-industry consolidations and partnerships.
2021: Top five mergers and acquisitions
FinTech Futures takes a look back at some of the year’s top mergers and acquisitions.
Rocket Companies to acquire personal finance app Truebill for $1.275bn
Truebill claims 2.5 million members and has doubled its user base in the last year.
MoneyLion acquires embedded finance marketplace Even Financial for $440m
The acquision is expected to add $90m of revenue for MoneyLion.
Canada’s BMO acquires Bank of the West from BNP Paribas in $16.3bn deal
BMO describes the acquisition as the “natural next step” in its North American growth strategy.
Private equity firm Thoma Bravo snaps up US fintech Bottomline in $2.6bn deal
The agreement will see Bottomline’s shareholders receive around $57 per share in cash.
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US paytech Flywire enters UK education market with WPM acquisition
The acquisition will build on Flywire’s existing education payments business.
Ameris Bank adds to lending portfolio with Balboa Capital acquisition
Ameris Bank resources will allow Balboa to expand its offering, says Balboa CEO.
Video: fintech news pick of the week – Better.com, WeLab & Rapyd
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Aussie fintech Finder secures first capital injection worth $22m
Finder co-founder Fred Schebesta says the company has been “bootstrapped since day one”.
Wealthtech FNZ acquires client onboarding tech vendor Appway
Hanspeter Wolf, CEO and founder of Appway, will become FNZ’s CTO.
Tutuka and Paymentology merge to create new paytech “powerhouse”
The merger will “create the world’s first global issuer-processor spanning 49 countries”.
Numerated acquires fellow fintech Fincura
Numerated is “building the future of business banking”, founder and CEO states.
Regtechs PassFort and kompany acquired by Moody’s Corporation
Both companies will be integrated into Moody’s KYC business within Moody’s Analytics.
