Hello Fintech Friends,
If you’re in Los Angeles, we’re hosting a meetup next Tuesday, August 16th!
We keep hearing from people that they didn’t realize we have a fintech investment fund, so here are the details:
A $10 million venture capital investor in the best fintech pre-seed and seed-stage founders.
Check sizes of $150k to $250k.
See our portfolio below!
Please find another week of fintech exits and deep reads below.
Rutter is a Universal Commerce API (’Plaid for Commerce’) that makes it easy for fintech companies to read and write financial data from ecommerce platforms, marketplaces, accounting systems and payment processors like Shopify, Amazon, WooCommerce, Quickbooks, Xero, Stripe and 30+ other integrations.
Join us for a panel discussion around the future of alternative finance with Stripe and Mercury on Wednesday, August 17, 2022, at 10 am PT. Learn more here.
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If you’re looking to hire from a group of 10,000+ smart, motivated fintech professionals, come pick up a Collective Pass and post a job here.
If you’re looking for your next adventure at one of the best fintech companies, check out the open roles here and sign up to be matched with Fintech companies here!
☯️ Exits
💻 IPOs & SPACs
Plastiq, the provider of a card-payment-to-anything B2B payments software, agreed to go public at a $408 million valuation by combining with the Colonnade Acquisition Corp. II SPAC. Plastiq previously raised over $144m in VC funding, at a $575m post-money valuation in 2019.
Dubai-based currency exchange platform Al Ansari Exchange is considering a Dubai IPO next year.
Global Star Acquisition, a fintech-focused SPAC, filed for an $80 million IPO.
🤝 M&A - Fintech
Built, a software provider for the real estate lending and construction industry, will acquire commercial real estate deal management platform Nativ.
Payments technology provider Global Payments will acquire 50-market B2B payment and point-of-sale provider EVO Payments for $4 billion.
Meanwhile, Global Payments is selling its subsidiary Netspend’s consumer business to Rêv Worldwide for $1 billion.
Private equity firm Permira is nearing a deal to acquire Reorg Research, a financial data vendor, for $1.3 billion.
Blockchain B2B payments provider Paystand has acquired LatAm-focused accounts payable startup Yaydoo.
Polskie ePłatności, a Polish payment provider owned by European payments giant Nets / Nexi Group, will acquireTeam4U, the owner of Simapka – an app for owners of shops and service points
iCapital, the alternative investing and asset management provider, completed its acquisition of investment marketplace SIMON Markets.
US digital banking provider Umba acquired a 66.6% stake in Kenyan microfinance bank Daraja.
🏦 M&A - Bank and FinServ
Canadian megabank Toronto Dominion Bank plans to acquire New York-based investment bank Cowen for $1.3 billion.
India’s Yes Bank, an Indian private sector retail bank, is considering selling 10% of the business to affiliates for $1.1 billion.
UK banking group NatWest is evaluating a £1.4 billion acquisition of wealth management firm Quilter.
Marex, a metals and commodity broker, will acquire its rival ED&F Man Capital Markets, $220 million.
The UK’s Lloyds Bank says that the bank will look into more fintech acquisitions, while also shutting down another 66 retail banking branches.
True or False: Cryptocurrency is untraceable. Not sure? Most folks in the world of crypto aren't either! As regulations and compliance around crypto are constantly evolving.
How can crypto companies be prepared for what’s to come?
Join our webinar on August 10th @ 10AM PDT to learn from leading industry experts!
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🌎 Fintech Around the World
📚 Deeper Reads & Features
Fraudsters are out to get the digital banking industry: How fintechs can significantly mitigate risk
Have a news item for us? Reach out to [email protected].
