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Please find another week of fintech exits below.
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☯️ Exits
🤝 M&A - Fintech
Public financial services recommendation platform Nerdwallet will acquire lending recommender On The Barrelhead for $120 million ($70 cash, $50 in stock).
Indian e-commerce and payments startup Pine Labs acquired embedded finance provider Setu for $75 million.
After it was reported that FTX was close to buying embattled crypto lender Blockfi for $25 million, after first offering to extend it a $250 million emergency line of credit, Blockfi CEO Zac Prince clarified the terms: a $400 million revolving credit facility and and option for FTX to acquire BlockFi at a variable price of up to $240 million based on performance triggers. (FTX is also eyeing upRobinhood for an acquisition.)
Bank payments provider GoCardless will acquire Scandinavian open banking provider Nordigen, which will expand its coverage to 2,300 banks across 31 countries.
German banking-as-a-service provider Raisin Bank acquired a unit of Bankhaus August Lenz in order to move into payments.
Turkey’s Colendi, a decentralized credit scoring engine, will acquire blockchain investment tool SETL.
Swiss investor financial hub Ephelia Capital took an 80% stake in financial asset streaming fintech Streamable Finance..
Cap table management platform Carta announced its acquisition of UK AngelList competitor Vauban.
Private equity firm FFL Partners announced a partial buyout of financial services IT provider Abacus Group.
Belgian B2B payments firm iBanFirst will acquire UK currency exchange provider Cornhill.
Manulife Financial received approval from Chinese regulators to increase its stake in its China-based joint venture to 100%.
Crypto brokerage Nexo has hired Citibank to help it hunt for acquisitions during the crypto market turmoil.
Nubank is on the hunt for Brazilian fintech acquisitions.
🏦 M&A - Bank and FinServ
Sumitomo Mitsui Banking Corporation acquired a minority stake in US investment bank Marathon Capital.
💰SPACs
UK no-fee trading app eToro is reportedly abandoning plans to go public via SPAC FinTech Acquisition Corp. V at a $10.4 billion valuation.
🌎 Fintech Around the World
📚 Deeper Reads & Features
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