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Hello Fintech Friends,
No time to read the newsletter this week?
Catch up with all the best fintech news in our weekly pod, with a rundown of everything you missed:
Please find another week of fintech exits and deep reads below.
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📖 Reads of the Week
☯️ Exits
💻 IPOs & SPACs
Klarna filed for a widely anticipated 2025 U.S. IPO, aiming to strengthen its presence in the global market, which could value the buy-now-pay-later provider above its implied $14.6 billion valuation. Yahoo Finance
The Fed just published its latest payment report. No major news, but a few things caught my eye:
- Mobile wallet, P2P and money transfer transactions all skyrocketed from 2018 to 2022.
- Contactless was almost 20% of all in-person payments. Still low relative to other markets.… pic.twitter.com/ON9AXtknzh— Davi Strazza (@davistrazza) November 15, 2024
a lot of fintech "shitcos" that went public in the ZIRP era and were completely left for dead are quietly having MONSTER years, many up 600%+ pic.twitter.com/BT9cEZWHPC— Sheel Mohnot (@pitdesi) November 8, 2024
🤝 M&A - Fintech
Coinbase acqui-hired the Utopia Labs team, signaling a focus on expanding its ecosystem. Axios
SIX Group agreed to acquire Aquis Exchange, enhancing its trading platform capabilities. Finextra
Solaris offloaded its Engage business in the UK to Suits Me, streamlining its operations. Finextra
Kaiko acquired Vinter, targeting the European crypto ETP market. Reuters
Bitwise acquired Ethereum staking service Attestant, boosting its assets under management to $10 billion. CryptoSlate
It's been very difficult to build fintech companies over the past two years. Regulators pulled banks back, rates went up, and venture capital was scarce. All three of these factors are changing (for different reasons) but the result is, we're about to enter a fintech boom.— Dimitri Dadiomov (@dadiomov) November 9, 2024
🏦 M&A - Bank and FinServ
Lightyear Capital acquired the assets of financial auditor Schellman & Company to support its next phase of growth. Business Wire
Blackstone backed Brigade with a $300 million investment in private credit CLOs. Reuters
ACA Group acquired financial compliance firm FinOp Consulting to expand its regulatory services. ACA Global
I want to believe in stablecoins so badly but I haven’t heard a good argument for how companies will handle KYC, sanctions screening, and (most likely) invest in fraud prevention for consumer use cases while preserving access and low costs. What am I missing?— Jareau (@jkwade) November 14, 2024
Turns out all it takes is a $1B acquisition and now it's all anyone talks about..... https://t.co/6JQ1eMS8fc— Nik (@NikMilanovic) November 14, 2024
Interesting graph from Visa pic.twitter.com/jNytaeCN88— Brian Armstrong (@brian_armstrong) November 15, 2024
The bankers have chosen a new Treasury Secretary https://t.co/pK6TcZRwv8— Joe Colangelo (@Itsjoeco) November 14, 2024
📺
A Message from Fifth Third
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.
📚 Deeper Reads & Features
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