Exits & Deep Reads

Airwallex acquires MexPago as part of its LatAm land-grab (TWIF 10/22)

A Tribe Called Quest. Chelsea, New York, 1990

Hello Fintech Friends,

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

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📖 Read of the Week

I enjoyed the writeup this week from Matrix Partners' Matt Brown on specific fundraising advice for fintech infrastructure providers. There are nuances to the business of building and scaling financial infrastructure that mediate toward eschewing some of the traditional fundraise narrative.

These were the three I found most compelling:

For financial infra, quality often trumps quantity in customers and revenue
Don’t be afraid of professional services; show how they map to account growth
Recognize and explain different levels of unit economics

☯️ Exits

🤝 M&A - Fintech

Small business banking startup Rho, which previously acquired business banking platform Capital (fka Party Round), is reportedly in talks to buy Creative Juice*, which offers upfront financing and other financial tools for creators.
Airwallex, a global payments platform for businesses, signed an agreement to acquire MexPago, a Mexico-based payment service provider.
The Depository Trust & Clearing Corp., a US clearinghouse and financial market infrastructure provider, announced that it will buy Securrency, a blockchain trading infrastructure provider.
Block, the payments company responsible for Square and Cash App, acquired Hifi, a musical royalty payment acceleration service.
Hong Kong crypto exchange OSL is weighing selling itself at a $1 billion valuation.
Stax Payments, a Florida-based payment processor, acquired Atlantic-Pacific Processing Systems, a provider of real-time payment data.
Crypto custody provider BitGo acquired HeightZero, a firm that provides software to wealth managers whose clients want to invest in digital assets.

🏦 M&A - Bank and FinServ

Several corporate investors and funds are reportedly looking to buy publicly-traded Italian payments giant Nexi, sending the stock up 19%.
UK fund manager abrdn will sell its $9 billion European private equity business to Brazilian firm Patria Investments.

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

📺

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