Canada’s TD Bank snaps up First Horizon for $13.4bn in US expansion push
The combined entity will become a top six US bank, serving 10.7 million customers across 22 states.
Mergers & Acquisitions/M&A
Payment platform Cheddar acquires Upside in open banking move
Upside’s open banking product will be added to Cheddar’s free payment offering.
TripActions continues European expansion with third acquisition, Resia
Scandinavian travel management company Resia is TripActions’ third acquisition in Europe.
Squirro signs European Central Bank, buys open.exchange, raises $4m
Zurich-based Squirro has raised $4m in equity funding from capital investment firm BuildGroup.
Pipe acquires Purely Capital to move into media and entertainment financing
Pipe claims to be “the creator of the world’s first trading platform for recurring revenues”.
TreviPay acquires fellow B2B paytech Baton Financial Services
Start-up Baton “has built a unique, innovative B2B invoice payments network”, TreviPay says.
Crypto firm Bitpanda acquires Trustology to launch custody service
Trustology will be rebranded as Bitpanda Custody, providing an institutional-grade crypto custody platform.
London Stock Exchange acquires trading tech TORA for $325m
Founded in 2004, California-based TORA offers cloud-based trading technology solutions.
FX platform M-DAQ acquires B2B cross-border paytech Wallex
The deal forms part of M-DAQ’s growth strategy as it looks to expand into new international markets.
Core banking tech vendor Technisys acquired by SoFi Technologies
Technisys’ shareholders will receive 84 million shares of SoFi common stock worth $1.1 billion.
Financial “cockpit” for SMEs Ageras raises €30m
Denmark-based Ageras is “poised to become one of Europe’s next unicorns”, investors say.
Equitable acquires Concentra to become Canada’s seventh largest bank
Concentra Bank, including Concentra Trust and Wyth Financial, will join Equitable.
Private equity firm Madison Dearborn Partners to acquire MoneyGram for $1.8bn
The transaction is expected to close in Q4 2022.
Billtrust grows European presence with Order2Cash acquisition
Order2Cash is a B2B order-to-cash platform provider in the Netherlands.
FIS acquires embedded finance start-up Payrix
The Atlanta-based Payrix provides embedded payment solutions for Software-as-a-Service verticals.
In an era of consolidation, will fintech retain its spirit of innovation?
The unprecedented level of consolidation in the market may stoke fears that innovation will be stifled.
Trulioo acquires HelloFlow to create “end-to-end identity platform”
HelloFlow is a no-code builder of client onboarding, monitoring, and digital workflow solutions.
Spanish banking giant BBVA invests $300m in Brazilian neobank Neon
“Digital is opening new ways for us to grow in very attractive markets,” says BBVA chairman.
TripActions continues European push with Comtravo acquisition
TripActions says it has invested more than $400 million across the UK and Europe in less than a year.
Fiserv acquires rival core vendor Finxact for $650m
Finxact was set up in 2016 to bring a modern, cloud-based alternative to the US market.
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Meta drops crypto project Diem due to regulatory roadblocks
The Diem Association has sold its intellectual property and tech assets to Silvergate Capital in a $182m deal.
Crypto paytech BCB Group acquires software firm LAB577, gains new CTO and COO
LAB577 founder Richard Crook and Farzad Pezeshkpour join BCB Group as COO and CTO, respectively.
Anti-fraud firm ClearSale acquires US tech start-up ChargebackOps for initial $3.6m
“Chargebacks are an enormous and growing problem for e-commerce merchants,” says ClearSale EVP.
German software firm SAP to acquire capital management fintech Taulia
Taulia will continue to operate as a standalone company under its own brand.
Paystone snaps up merchant services provider Canadian Payment Services
Paystone CEO Tarique Al-Ansari says the deal will “provide additional value to CPS merchants”.
Video: fintech news pick of the week – UBS, Katana Labs and Walmart
Our top pick of news from the world of finance and tech in bitesize video format, every week.
Aussie BNPL firm Zip confirms Sezzle takeover talks
The potential deal would follow a string of acquisitions by Zip over the past 18 months.
Walmart-backed Hazel snaps up fintech platforms Even and One in super app push
Walmart CEO says the app will allow users to “manage their money in one place”.
UBS agrees $1.4bn deal to acquire wealth management platform Wealthfront
Millennial and Gen Z-focused Wealthfront caters to “the next generation of investors”.
JP Morgan acquires 49% stake in European SME paytech Viva Wallet
JP Morgan says Viva Wallet is a “natural fit” for its payments business.
Financial crime fighter ACAMS acquired by PE firm Wendel for $500m
ACAMS has a global membership base of 90,000+ members in 175 countries.
Modifi acquires Seawise Capital’s trade finance and SaaS business in India
Modifi’s business in India has grown more than 2,100% over the past 18 months.
Zafin acquires fellow Canadian fintech Fincad
Together, Zafin and Fincad will become “one of Canada’s largest B2B fintech companies”.
Fifth Third snaps up green energy lendtech Dividend Finance
Dividend Finance offers financing solutions for renewable energy focused home improvement projects.
Open banking fintech Plaid acquires ID verification platform Cognito
The acquisition completes the customer onboarding experience, says Plaid CEO.
BlueVine sells its founding invoice factoring business to Canadian rival FundThrough
The acquisition fast tracks the FundThrough’s expansion efforts in the US market.
United Fintech acquires 25% stake in asset management platform Athena
The multi-stage acquisition deal is the company’s fourth acquisition in 14 months.
UK consumer lender Oplo acquired by challenger bank Tandem
Together, Tandem and Oplo will “create a fairer, greener digital bank”.
Brex hires Meta product head Karandeep Anand as CPO, lands $300m funding
Since its founding in 2017, Brex has raised a total of $1.2 billion.
