Revolut spins out a $9.5B investing business (TWIF 9/29)

American neobank Chime tappedMorgan Stanley to lead its 2025 US IPO. It was last valued at $25 billion in 2021.

Global card network Visa acquiredFeaturespace, a developer of real-time artificial intelligence payments protection technology that prevents and mitigates payments fraud and financial crime risks, for £700 million according to sources.

Revolut is spinning out its investing platform as a standalone app to compete with Robinhood and eToro. By the numbers, the app has $9.5 billion in assets, with 3 million users and 20,000 Trading Pro customers.

Speaking of eToro, the Israeli-based global trading and investing platform acquired Australian investing app Spaceship for up to A$80 million.

PayMate, an Indian company which helps firms simplify and digitize B2B payment processes, covering accounts payable and receivable, invoice discounting, and embedded finance, is planning to enter Indonesia via its acquisition of DigiAsia's regional subsidiary for $400 million.

Indian neobank Jupiter, backed by its Brazilian counterpart NuBank, is in talks to acquire up to a 10% stake in Indian local bank SBM Bank.

Lightspeed Commerce, a publicly-listed Canadian payments software platform with a market value of C$2.8 billion, is working with an advisor to explore options including a sale.

MENA payments provider Dgpays formed a consortium with private equity firm Arcapita to acquire regional payment solutions provider Neopay for $385 million.

Enfusion, an American software provider for asset managers currently valued at $1.1 billion, is interviewing investment banks to explore a potential sale.

NoteMachine, a cash availability provider, acquired the ATM business of British supermarket Sainsbury's.

School activity fund manager KEV Group acquiredGray Step Software.

Germany's government continues to condemn Italian bank UniCredit's attempt to become the biggest investor in – and take over – its German rival Commerzbank, with a 21% stake.

French bank BNP Paribas agreed to buy HSBC Holdings' private banking operations in Germany, which took its local wealth management assets to €40 billion.

London Stock Exchange owner LSEG is working with investment bankers at JP Morgan to find a buyer for its 5% stake in financial markets infrastructure provider Euroclear for around £500 million.

Banco BTG Pactual, the biggest investment bank in Latin America, bought Miami-based multifamily office Greytown Advisors.