Hello Fintech Friends,
Please find another week of fintech exits and deep reads below. (👍👎 Have feedback for us? Let us know!)
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Raising debt capital is a crucial requirement for card, lending, and neobank startups, but most fintech operators don’t come from a capital markets background. That’s why Finley and Cross River Bank put together this comprehensive guide to raising debt capital. It outlines the people, processes, and partners you need to assemble to execute a debt capital raise. Download your free copy here.

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📖 Reads of the Week


☯️ Exits
💻 IPOs & SPACs
Lineage, a real estate investment trust for temperature-controlled warehouses, will raise up to $3.5 billion in its IPO.
🤝 M&A - Fintech
Buy-now-pay-later provider Klarna will sell off its point of sale checkout business for $520 million to avoid conflicts with payment facilitator integration partners like Stripe and Adyen.
American Express will acquire restaurant reservation platform Tock from Squarespace for $400 million.
US neobank Chime will acquire earned wage access provider Salt Labs for $14 million in cash, with additional consideration of up to $159 million.
UK small business lending platform Funding Circle* sold off its US business to lender iBusiness Funding.
Brazil's NuBankacquired bank-focused AI developer Hyperplane.
French bank Société Générale is selling off its incubated freelancer-focused neobank Shine to Ageras, a Danish fintech consolidator.
Japanese crypto exchange BitFlyer is reportedly trying to acquire FTX Japan.
Chinese fintech giant Ant Group is likely to sell its stake in China’s first personal credit reporting company to Tencent.
Private equity firm GrowthCurve acquiredDuetto, a provider of revenue management software for the hospitality industry.

🏦 M&A - Bank and FinServ
American card issuer Discover sold off its $10 billion student loan portfolio to private equity firms Carlyle and KKR ahead of its planned acquisition by Capital One.
British investment trusts Alliance and Witan will merge to create a company managing £5 billion.
Australian bank ANZ received regulatory approval to acquire rival Suncorp Bank for $3.3 billion.
I can only imagine how today is going for @sytaylor @mikulaja @AlexH_Johnson @NikMilanovic based on all the news breaking today in #fintech pic.twitter.com/huiw1630tI— Sam Maule (@sammaule) June 26, 2024
@jasonhenrichs you know I love your writing bro, but this is a very US centric view. Globally #fintech is still on a tear, as evidenced by its dominance in customer choice pic.twitter.com/uT9n6LRSIj— Brett King #TheFuturists #OptimalHumanity ✈️ (@BrettKing) June 30, 2024
Synapse's many failures have been a boon to those commentators who hate fintech, and now get to paint 2,000+ founders with the same broad brush.
Fortunately, twitter commentators rarely matter in the long run...— Nik (@NikMilanovic) June 26, 2024
📺
Sponsored Content
Raising debt capital is a crucial requirement for card, lending, and neobank startups, but most fintech operators don’t come from a capital markets background. That’s why Finley and Cross River Bank put together this comprehensive guide to raising debt capital. It outlines the people, processes, and partners you need to assemble to execute a debt capital raise. Download your free copy here.

Want to sponsor a newsletter? See our sponsorship information here.
🌎 Fintech Around the World
📚 Deeper Reads & Features
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