Hello Fintech Friends,

Please find another week of fintech exits and deep reads below.

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📖 Reads of the Week

☯️ Exits

🤝 M&A - Fintech

  • Array Acquires Payitoff: Array strengthened its debt management solutions by acquiring Payitoff, which adds embeddable debt management tools to help users better manage debt through integrated, personalized financial guidance. Read more.

  • nCino to Buy FullCircl: nCino will acquire FullCircl for $135 million to enhance its compliance software, expanding its financial services and regulatory onboarding capabilities across the UK and Europe. Read more.

  • Elphinstone* Grows in Pakistan: Elphinstone*, a fintech that allows Pakistani retail investors to invest in US stocks and ETFs has acquired Trikl, a local investment platform and digital asset management company. Read more.

  • Bridgepoint Takes Eckoh Private: British publicly-listed payments company Eckoh agreed to a £169.3 million pounds cash takeover by private investment company Bridgepoint Advisers. Read more.

  • Sainsbury's Sells Off Cards: British publicly-listed supermarket Sainsbury's, sold its Argos Financial Services cards portfolio to NewDay Group for an expected £720 million. Read more.

  • Global Payments Sells off Advanced MD: Payment processor Global Payments sold off its healtcare business Advanced MD to private equity firm Francisco Partners. The business was sold for $1.13 billion off of $105 million of EBITDA. Read more.

  • K1 to Sell Irwin to FactSet: K1 Investment Management plans to sell fintech firm Irwin to FactSet, integrating Irwin's investor relations technology to improve FactSet’s market insights. Read more.

  • Carta Acquires Tactyc: Carta acquired Tactyc, bringing Tactyc's modeling and forecasting tools to its fund administration platform to enhance portfolio management for investors. Read more.

  • iCapital Acquires AltExchange: iCapital announced its acquisition of AltExchange to boost its data management with AI-driven solutions, aiming to streamline data and reporting for alternative investments. Read more.

  • Indian Card Issuer Slice Acquires a Bank:Indian fintech startup Slice said it has completed its merger with North East Small Finance Bank. Read More.

  • Acquarian Picks Up C-PACE Lender: Aquarian Holdings has purchased a majority stake in PACE Equity, which hands out commercial property assessed clean energy loans, to real estate developers and owners. Read more.

  • Financial Finesse Acquires OfColor: Financial coaching platform Financial Finesse acquired OfColor, a financial wellness platform that empowers employees of color to improve their financial well-being and build wealth. Read more.

🏦 M&A - Bank and FinServ

  • Western Union to Buy Singapore Mobile Wallet Dash: Western Union agreed to acquire the mobile wallet Dash from Singtel to strengthen its digital payment presence in Singapore. Launched in 2014, Dash offers payment, remittance, savings, and investment services to over 1.4 million users. Singtel’s sale aligns with its strategy to focus on core business areas while maintaining financial services through other partnerships. Read more.

  • Telco BT Explores Selling Off Bank Unit: British telecom group BT is working with bankers to sell Radianz, a service used by financial institutions to connect banks, brokers, exchanges and clearing houses to each other. Read more.

  • Mariner Wealth Advisors and Neuberger Berman Partnership: Mariner Wealth Advisors announced a strategic partnership with Neuberger Berman Capital Solutions, with a significant minority growth investment aimed at fueling Mariner's expansion and enhancing its client services. This investment will support Mariner’s goal to grow its advisor base and strengthen client-first services while maintaining majority operational control. Read more.

  • BC Acquires Runway: BC Partners Credit will acquire Runway Growth Capital, a provider of growth loans to companies seeking alternatives to equity financing. Read more.

Loved being at @money2020 this week in Vegas. Some quick show impressions.

1. Embedded finance is still drama. Everyone is waiting for rules to come.

2. The biggest issue under the surface is scams. Expect this to become mainstream.

3. Very little stage or booth presence for… pic.twitter.com/pHE9ASuOmX— Simon Taylor (@sytaylor) November 1, 2024

Zelle is ground zero for scams in the U.S. because it moves money in real time by default.

This was a design choice that the big banks made in order to differentiate Zelle from Venmo and Cash App.

I always think about this when I hear banks complain about liability for scams.— Alex Johnson (@AlexH_Johnson) November 1, 2024

Startup Clone Wars

It’s not uncommon for an Investor to chat with an early-stage Startup and within weeks get introduced to 3-4 other Startups tackling the same opportunity at the same time. When this happens it’s rarely coincidental and definitely worth paying attention to.… pic.twitter.com/4nOsXkEpQO— fintechjunkie (@fintechjunkie) October 29, 2024

The team at @alliancedao always have great DeFi surveys and data, and I wanted to highlight their most recent trends report.

I found these three insights to be the most interesting:

1. The US' share of DeFi developers continues to shrink relative to Asia and Africa. I'm sure… pic.twitter.com/040CRNVKNl— Nik (@NikMilanovic) November 1, 2024

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Sponsored Content

Scale your fintech product with Newline™ by Fifth Third and launch payment, card and deposit products directly with Fifth Third Bank. Newline seamlessly combines the power of a top 20 bank with an API-first technology platform to help you unlock the next generation of embedded finance solutions. Learn more at Newline53.com.

Want to sponsor a newsletter? See our sponsorship information here.

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