Hello Fintech Friends,
We’ll be in Cape Town for Africa Tech Festival next month! Come join us at our Fintech Happy Hour on November 10th: https://lu.ma/capetown (we’re still looking for one more sponsor - shoot me a note if you’re interested).
Also, here by popular demand is our first annual December 25th Chinatown Dumpling Crawl: https://lu.ma/dumpling, led by This Week in Fintech’s Alex Gillette.
At Money2020 tonight? Last chance to come join us for our kickoff event!
Lower valuations invited larger companies to go on buying sprees, which drove acquisitions to spike by 153% (🤯) in Q3 over the prior quarter. Get the full report in Sophie Vo’s Q3 Signals Report.
Please find another week of fintech exits and deep reads below.
Galileo and Technisys are creating the future of fintech — and we need your help. Our booth will feature professional artists who will actively design a mural based on your ideas in real time. (Psst, if you come by booth #1437 and answer questions for the mural, you’ll be eligible to win a brand new set of AirPods.)
Want to see how you can innovate at scale? Book a 1:1 meeting with us at Money20/20 (hurry, we’ve already booked 100+ meetings).
Want to sponsor a newsletter? See our sponsorship information here.
☯️ Exits
💻 IPOs & SPACs
Super Apps, a Malaysian builder of payments tech, is set to go public in the US via a SPAC with Technology and Telecommunication Acquisition Corporation at a $1.1 billion valuation.
🤝 M&A - Fintech
Private equity firm Vista Equity Partners acquired tax software builder Avalara for $8.4 billion.
Chinese cross-border payments firm LianLian Global acquired a minority stake in AI content generator ContentBot.
RFI Global, a provider of data and insights for financial services, acquiredMacroMonitor, another financial data and insights provider.
Texas’ securities regulator is investigatingFTX’s quick rate of acquisitions for potential conflicts and antitrust.
🏦 M&A - Bank and FinServ
India is looking to sell its state-owned bank IDBI Bank to a private buyer for $7.73 billion.
The consumer credit arm of Italian investment bank Mediobanca Group acquired Italian special purpose lending fintech Soisy and a 19.5% stake in Swiss buy-now-pay-later provider HeidiPay.
Westpac Bank in Australia hiredJP Morgan to help it vet an acquisition of payment terminals business Tyro Payments.
Credit Suisse is looking into selling its US asset management arm.
Want to sponsor a newsletter? See our sponsorship information here.
🌎 Fintech Around the World
📚 Deeper Reads & Features
GOP Senate candidate demands schools notify parents if their kids identify as chipmunks. Elsewhere, Why We Should All Be Chasing Acorns.
Have a news item for us? Reach out to [email protected]
