BlackRock moves into private markets with $3.2B Preqin acquisition (TWIF 7/7)

Memories of a Summer on the Coast of Yugoslavia

Hello Fintech Friends,

There was some pretty interesting corporate development activity this week - other than the headline acquisition, China's Ant Group is also acquiring its way into the European market, Indian crypto exchange CoinDCX will enter the Middle East, and Robinhood deepens its moves into roboadvisory.

Please find another week of fintech exits and deep reads below. (👍👎 Have feedback for us? Let us know!)

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📖 Reads of the Week

☯️ Exits

🤝 M&A - Fintech

Asset management giant BlackRock will acquire Preqin, a provider of private markets data, for $3.2 billion as it looks to expand into alternative assets and private market investing. BlackRock plans to incorporate Preqin's data and research tools in its Aladdin portfolio-management software.
Indian crypto exchange CoinDCX, with a userbase of 15 million customers, entered an agreement to acquire Bahrain-based crypto broker-dealer BitOasis in order to enter the Middle Eastern market.
Personal investing platform Robinhood will acquire artificial intelligence-driven investing app Pluto Markets.
Chinese digital payments giant Ant Financial continues its expansion into Europe with its acquisition of Dutch payment service provider MultiSafepay under its Antom subsidiary.
Taxfix, a German digital tax filing platform, agreed to acquire British accountant-assisted digital tax filing company TaxScouts.
Acuity Knowledge, a provider of research and analytics for financial services, will acquire PPA, a banking tech service provider.
Corporate compliance software provider EQS Group will acquire Data Legal Drive, a French anti-corruption compliance software.
Italian business software provider TeamSystem acquired a controlling 61% stake in Change Capital, a fintech providing AI-backed credit mediation services for small businesses.
The crypto miner CleanSpark entered into an agreement to purchase GRIID, a Bitcoin mining firm, for $155 million.

Venmo requests but with interest pic.twitter.com/JYCsDExYKQ
— andrew kim (@amkim2003) June 30, 2024

Babe, wake up. JP Morgan Chase is talking about sending more customers to Chime again.

Also, this is why I was upset earlier this week. Some regulators say "fintech bad" but this is the banking they are encouraging. Churn low-income consumers off banking or fee them to death. https://t.co/mqNm1b8tzh
— Matt Janiga 💥♻️ (@regulatorynerd) July 5, 2024

Monzo's new features for fraud are amazing

📍 Known locations or "leave your money at home".

Places you're comfortable moving large amounts of money but fraudsters are unlikely to access

🤝 Trusted contacts.

If a large transfer is requested your trusted friend must… pic.twitter.com/EJOq20ujhg
— Simon Taylor (@sytaylor) July 1, 2024

📺

Sponsored Content

Raising debt capital is a crucial requirement for card, lending, and neobank startups, but most fintech operators don’t come from a capital markets background. That’s why Finley and Cross River Bank put together this comprehensive guide to raising debt capital. It outlines the people, processes, and partners you need to assemble to execute a debt capital raise. Download your free copy here.