US fintech GloriFi to trade publicly following $1.7bn SPAC merger with DHC
The new combined business will be worth approximately $1.7bn with the deal expected to close in Q1 2023.
Mergers & Acquisitions/M&A
Veritas Capital in talks with NCR Corporation over potential acquisition
According to The Wall Street Journal, a deal is far from certain and could be weeks in the making.
Great Western Credit Union completes merger with Stroud Valleys Credit Union
GWCU says it now has a combined total of over 21,000 members.
Equity management firm Qapita buys India-based ESOP Direct
Qapita is aiming to boost its presence in India.
Equifax acquires chargeback fraud prevention firm Midigator
Midigator automates the chargeback dispute response process and provides real-time data to businesses.
India’s M2P Fintech snaps up digital identity platform Syntizen
This is M2P Fintech’s third acquisition in 2022 alone.
French business banking firm Qonto snaps up German fintech Penta
The acquisition is expected to close in the next few weeks.
FinTech Futures: Top five stories of the week – 22 July 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Wealthtech FNZ snaps up private banking tech provider New Access
New Access is primarily active in Switzerland, Liechtenstein and Luxembourg.
Flywire acquires Aussie education paytech Cohort Go
The acquisition will help build out Flywire’s existing education business.
BNPL firms Zip and Sezzle agree to call off proposed merger agreement
The merger was initially announced earlier this year.
Australia’s ANZ snaps up Suncorp Bank in $3.3bn deal
ANZ CEO Shayne Elliott says the acquisition is a “cornerstone investment” for the firm.
Wealthtech Tifin acquires SharingAlpha to boost international presence
Following the acquisition, SharingAlpha will be fully integrated into Tifin’s Magnifi platform.
India’s M2P Fintech snaps up cloud lending firm Finflux
M2P Fintech plans on rolling out lending products “that are secure, scalable and cloud-ready”.
Creditas lands $50m Series F extension, acquires Andbank’s Brazilian banking licence
Firm hopes new licence will help diversify its sources of funding and grow its portfolio of credit products.
ING spins out digital post-trade market infrastructure tech to GMEX Group
GMEX intends to combine Pyctor with its MultiHub offering.
GoHenry acquires French fintech Pixpay to drive European expansion
Both firms will continue to operate under their own brands with no change in leadership or headcount.
eToro and FinTech V call off proposed SPAC merger
Neither party will be required to pay the other a termination fee, as the decision was mutual.
Nexo offers to buy crypto platform Vauld following “financial challenges”
The potential acquisition is pending a satisfactory outcome of the initiated due diligence process.
Dubai’s Careem acquires money transfer platform Denarii
Careem plans to offer “simple and affordable international remittance services” through its super-app.
GoCardless to buy Latvian open banking platform Nordigen
The deal is expected to close later in the summer.
iBanFirst snaps up UK foreign exchange provider Cornhill
The firm hopes the deal will help SMBs across Europe tackle Brexit-related payment challenges.
FinTech Futures: Top five stories of the week – 1 July 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Singapore’s Funding Societies acquires paytech CardUp
Funding Societies says that all of CardUp’s employees across Asia will be retained.
Flyp taps Galileo to power its mobile banking platform
Galileo’s solution will serve as the backbone for Flyp’s “gamified” BaaS platform.
India’s Lentra snaps up AI firm TheDataTeam
Lentra says it plans to integrate TDT’s behaviour intelligence platform Cadenz.
Data platform SAS acquires financial risk management firm Kamakura
Together, SAS’ and Kamakura’s solutions “will prove far greater than the sum of its parts”.
Marygold acquires Tiger Financial & Asset Management for UK expansion
Tiger’s core business is managing clients’ financial wealth across a range of products.
Raisin Bank acquires payments division from Bankhaus August Lenz
The acquisiton, for an undisclosed sum, will be headed up by Bankhaus payments veteran Mirko Siepmann.
India’s Pine Labs acquires API fintech start-up Setu
This is the third acquisition announced by Pine Labs this year.
US fintech Glia acquires chatbot platform Finn AI
With the acquisition, Glia aims to make virtual assistants “mainstream” for financial services companies.
Blockchain paytech Roxe to go public via SPAC merger in $3.6bn deal
Roxe will merge with Goldenstone Acquisition and become a publicly traded company on Nasdaq.
Intesa Sanpaolo sells Croatian merchant acquiring business to Nexi
The €180m deal forms part of a broader multi-year partnership in the merchant acquiring space.
Canada’s VersaBank acquires a Minnesota-based bank to fuel US growth
Upon closing, the bank will be renamed VersaBank USA National Association.
US proptech HomeLight acquires Accept, raises $115m at $1.7bn valuation
The acquisition of Accept will make HomeLight the largest agent-focused cash offer programme in the country.
Paytech PPRO hires Rahul Raswant as new chief financial officer
Raswant has held roles at Standard Chartered Bank and consultancy McKinsey.
Fintech for migrants Rewire acquires prepaid card provider Imagen
Imagen is Rewire’s first acquisition and will enable it to provide prepaid debit cards in Israel.
Banking start-up Fiinu to launch plug-in overdraft, list on LSE
Fiinu is set to be acquired by media company Immedia for approximately £37.5 million.
Nets sells invoicing and bill payment business EDIGard to PE firm AnaCap
EDIGard is headquartered in Norway and operates across Sweden, Denmark, Finland, UK and Germany.
MDXT acquires low-code/no-code SaaS workflow solution Iceflow
Iceflow creator Graham Denyer will join MDX Technology as CTO.
