Hello Fintech Friends,
I had a great conversation at Rise NYC last week with David Messenger, the CEO of PingPong Global's Global Business, on scaling a truly international payments platform.
Sharing a teaser of the conversation below – the full episode will be out this Friday!
Please find another week of fintech exits and deep reads below.
(👍👎 Have feedback for us? Let us know. Find me at @nikmilanovic, @twifintech, and @ndm)
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Build smarter. Ship faster. Work with Cross River →
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📖 Reads of the Week
☯️ Exits
💻 IPOs & SPACs
GCash, a Philippine fintech unicorn, is considering delaying what would have been the Philippines' biggest IPO due to concerns about an escalating U.S.-China trade war. The company, which reached a valuation of over $3 billion in 2023, had been planning to list on the Philippine Stock Exchange in the second half of 2025. However, executives expressed caution about proceeding with the public offering amid growing trade tensions between the United States and China.
Globe Fintech Innovations Inc. (also known as Mynt), the parent company of GCash, had secured backing from major investors including Alibaba-affiliated Ant Group, which held a substantial minority stake in the company. This connection was a significant factor in the company's hesitation about proceeding with the IPO during a period of heightened trade tensions.
🤝 M&A - Fintech
FlexacquiredMaza, a financial services platform primarily for immigrants and hispanic Americans, for $40 million as fintech M&A activity heats up.
Intuitacquired HR platform GoCo to expand its business offerings.
Fiservannounced plans to buy Brazilian fintech Money Money to strengthen its presence in Latin America.
Argentex is considering selling to IFX Payments following margin call disruptions in its operations.
SC Venturessold its Indian incubated supply chain finance platform Solv, which it had developed within its fintech venture arm.
Canadian digital financial coaching provider Kaira Technologiesannounced a major investment from Peak Capital Partners.
Fiservmoved to acquire a Brazilian financing engine, expanding its footprint in the Brazilian market.
Ant Grouptook control of a Hong Kong retail broker for $362 million, enhancing its financial services portfolio in the region.
FeedzaiacquiredDemyst, strengthening its data capabilities in the financial fraud prevention sector.
🏦 M&A - Bank and FinServ
Credit card providers Capital One, an issuer,and Discover, an issuer-network,received final approval for their $35 billion merger.
Argentex, a foreign exchange firm, agreed to a takeover deal with IFX Payments, finalizing the acquisition that had been under discussion.
TPG and TemasekbackedCliffwater, a specialist in interval funds, through strategic investments to support its growth in the alternative investments space.
Stone Point CapitaljoinedGTCR as an investor in Ultimus Fund Solutions, expanding the ownership structure of the financial services provider and valuing it at $2 billion.
Japanese regional banks Daishi Hokuetsu and Gunma Bank plan to integrate their businesses, a move that will create one of the largest players in the industry.
Italy clearedUniCredit's €13 billion takeover bid for Banco BPM with specific conditions, moving forward a significant consolidation in the Italian banking market.
📺
Sponsored Content
Cross River is built to match the pace of fintech—full-stack infrastructure, API-first, with a proprietary core that flexes as you grow. Automated subledger management ensures every transaction is reconciled in real time. And with compliance embedded at every layer, you get the control and confidence to scale.
Build smarter. Ship faster. Work with Cross River →
Want to sponsor a newsletter? See our sponsorship information here.
📚 Deeper Reads & Features
