Yahoo Finance builds out investor insights with Commonstock acquisition
Launched in 2020, Commonstock is backed by investors including Coatue, QED and Floodgate.
Mergers & Acquisitions/M&A
KPMG data shows steep drop in Canadian fintech funding in H1 2023
H1 2023 investment activity totalled $353.7m across 57 deals, down from $1.09 billion across 87 deals in H2 2022.
Moniepoint gets the go-ahead to acquire Kenyan fintech Kopo Kopo
For Moniepoint, which operates in Nigeria, the acquisition allows it to expand its footprint into Kenya.
Trading Technologies enhances buy-side appeal with Abel Noser Solutions acquisition
The deal is expected to close on 31 August.
Colendi lands banking licence to become Turkey’s first digital deposit bank
As Turkey’s first digital bank, ColendiBank is aiming to reach 50 million customers regionally.
Velo Payments to acquire payment processing platform YapStone
The acquisition is subject to regulatory approvals and customary closing conditions.
FullCircl reinforces compliance suite with W2 Global Data Solutions acquisition
Under the terms of the deal, W2 will now trade as ‘W2 by FullCircl’.
GoLogiq signs letter of intent to acquire Fram Venture 7 and SME lender DragonLend
The $6 million deal is to be completed via an all-stock transaction by September.
Splitit plans to go private for stringent $60m capital commitment
Part of the commitment requires the US BNPL vendor to redomicile to the Cayman Islands.
Turkish fintech Param acquires BNPL firm Twisto to boost European expansion
Param plans to leverage Twisto’s licences to offer its embedded financial solutions across Europe.
Paytech Matera acquires Brazilian AI firm Cinnecta for undisclosed sum
The acquisition will enable Matera’s clients to enhance their sales capabilities through actionable insights.
Finland’s Basware makes offer to acquire Irish fintech Glantus for £17.8m
The transaction is subject to all necessary approvals, and is expected to be finalised in Q4 2023.
Better.com gears up to go public through SPAC merger
According to an SEC filing, the merger is set to close “on or about” 22 August 2023.
DBS completes acquisition of Citi’s consumer banking business in Taiwan
DBS has also absorbed close to 3,000 employees from Citi Consumer Taiwan.
Nationwide Building Society transfers financial planning service to Aegon UK
The transfer is set to take place in early 2024.
Specialist lender Shawbrook reportedly mulling Co-operative Bank merger
Sky News reports Shawbrook has approached the Co-operative Bank’s owners about a potential deal.
Svatantra to acquire Navi Group’s microfinance subsidiary for $178.6m
On completion of the deal, Svatantra says it will become the second largest microfinance entity in India.
MarketAxess acquires Pragma to leverage quantitative trading technology
MarketAxess aims to accelerate the development of quantitative execution algorithms for fixed-income products.
Vijay Shekhar Sharma buys 10% stake in Paytm worth $628m from Antfin
Sharma’s shareholdings in Paytm will increase to 19.42%, while Antfin’s shareholdings are reduced to 13.5%.
Mexican challenger Albo snaps up Delt.ai for $20m
The acquisition makes Albo “the only neobank to offer debit and credit products for both consumers and SMBs”.
US credit union associations CUNA and NAFCU announce merger to form America’s Credit Unions
A 60-day voting period for members to approve the merger is expected to begin later this month.
FinTech Futures: Top five stories of the week – 4 August 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Payoneer acquires AI-powered data platform Spott to streamline decision-making
Payoneer says the start-up’s tech will help it to “better understand and serve customers”.
Nexi buys 30% stake in German PSP Computop
Computop’s founders, Frank Arnoldt and Ralf Gladis, previously held 50% of the company’s shares each.
GoLogiq to acquire Vietnamese fintech Symplefy for $30m
GoLogiq’s executive chairman Brent Suen says the acquisition “is the next of several in our pipeline”.
Vestwell taps workplace financial wellness with Gradifi Solutions acquisition
Vestwell acquires Gradifi Solutions from Morgan Stanley, following its acquisition of E*TRADE Financial.
UK fintech Rapyd snaps up PayU GPO in $610m deal to boost global expansion
PayU says the sale will allow it to focus on “the huge fintech opportunity” in India.
Allfunds acquires local paying agent business of Iccrea Banca
The acquisition enables Allfunds to develop its position in Italy as a local paying agent business.
Vanquis Banking Group buys UK smart money app Snoop
Snoop leverages AI and open banking technology to provide personalised overviews of spending habits.
Upgrade snaps up BNPL vendor Uplift for $100m
California-headquartered Uplift provides BNPL payment and credit products to the travel industry.
Trintech snaps up Fiserv’s financial reconciliation business
Trintech hopes the deal will “act as a springboard for innovation” for its accounting automation platform.
How telco software giant Amdocs is looking to make waves in fintech
FinTech Futures speaks with Amdocs’ Zur Yahalom about the company’s move into the fintech space.
Wealthtech GBST strengthens cloud portfolio with Advice Intelligence acquisition
The deal follows GBST’s acquisition of WealthConnect, the Salesforce-based CRM solution, in May.
Bain Capital buys majority stake in India’s Adani Capital, invests $120m to boost growth
Bain Capital will pick up a 90% stake, with current CEO Gaurav Gupta retaining the other 10%.
Nordea acquires Danske Bank’s Norwegian personal customer and private banking business
The agreement is set to bring approximately 285,000 new customers to Nordea.
Saudi Arabia’s HyperPay acquires fintech start-up Sanad Cash
HyperPay is aiming to expand its product offerings in order to become an “all-in-one” digital payments platform.
Santander reportedly looks to boost investment banking operations with new hires
Reuters reports Santander is making at least 50 new hires in a push to become a major investment banking player.
Nav announces second acquisition of the year with start-up Tillful
In addition to the asset acquisition, many of Tillful’s employees will be joining Nav in senior roles.
Standard Chartered exits several markets in Africa through sale of subsidiaries to Access Bank
Access Bank will acquire Standard Chartered’s subsidiaries in Angola, Cameroon, The Gambia and Sierra Leone.
FinTech Futures: Top five stories of the week – 14 July 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
