Banking Technology Magazine April 2023 issue out now
Cover story: TRANSFORMATION INTERVENTION – It’s never too late to recalibrate.
Click on the image to read the April edition of the Banking Technology Magazine
Welcome to the April edition of the Banking Technology magazine, full of spring hope and action – just as the US and UK governments have swiftly taken action to ensure the firms banking with the ill-fated Silicon Valley Bank (SVB) have their money protected.
Despite the economic uncertainty and setbacks, the fintech sector looks unstoppable – not a day goes by without an announcement of funding deals (turn to p28 for our monthly round-up) and new launches.
The acquisitions are also rife (no surprise there). In the payments space, Mangopay has snapped up fellow European paytech WhenThen. Last year, Mangopay was itself acquired by a private equity firm, Advent International, which committed €75 million of primary capital to it.
Payments giant Mastercard has acquired Swedish cybersecurity start-up Baffin Bay Networks. It is also currently reportedly in a bidding war for Latin American banking tech firm Pismo.
Italian paytech Nexi is buying 80% of Banco Sabadell’s merchant acquiring business for €280 million. And another European industry heavyweight, Ingenico, has bought Phos, a provider of software-only point of sale solutions (SoftPoS). Ingenico itself recently got a new owner, Apollo Private Equity Funds, and a new CEO (see p31).
Click on the image to read the April edition of the Banking Technology Magazine
On the UK open banking scene, Banking-as-a-Service (BaaS) provider Weavr has acquired B2B open banking platform Comma Payments (Weavr secured a $40 million Series A funding round, led by Tiger Global, last year). Embedded finance platform Railsr was sold to consortium of VC firms led by D Squared Capital. And savings app Snoop is reportedly considering a sale after receiving a number of approaches about a potential takeover.
In the trading and investment space, JP Morgan Chase has acquired Aumni, a provider of investment analytics software for venture capital firms. Another financial services heavyweight, State Street, has purchased CF Global Trading, which specialises in outsourced trading for a range of asset classes.
Bloomberg has signed an agreement to acquire Broadway Technology, a provider of front-office fintech solutions. And capital markets tech platform provider Trading Technologies (TT) has bought AxeTrading, a provider of fixed income trading solutions.
For more details on these – and more M&A happenings – head over to the M&A news section of the FinTech Futures website, but hopefully not before reading through the latest edition of the magazine packed, as always, with fintech goodness!
