The Front Page of Global Fintech

The largest fintech community in the world. Subscribe to our newsletter to stay up to date on the latest in news opinions, and all things financial technology.

Image Description

The Front Page of Global Fintech

The the largest fintech community in the world. Subscribe to our newsletter to stay up to date on the latest in news opinions, and all things financial technology.

Image Description

Banc of California joins the PacWest (TWIF 7/30)

Banc of California joins the PacWest (TWIF 7/30)
Road Trip: 3 Days in Northern Michigan

Hello Fintech Friends,

Well, it finally happened - another (semi?) beleaguered bank took defensive action and merged to avoid a depositor run. This week, California's PacWest Bank ($36B) announced that it will be acquired by its smaller counterpart Banc of California ($9B) and pay down its brokered deposits.

Also this week, we had Nala’s Benjamin Fernandes join our host Helen on Hey Fintech Friends to talk about money-movement and cross-border payments in Tanzania.

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


☯️ Exits
🤝 M&A - Fintech
  • ClauseMatch, a SaaS platform for financial regulatory compliance and governance, sold itself to Irish compliance operating model provider Corlytics.
  • GBST, a provider of SaaS wealth management technology, acquired Advice Intelligence, an end-to-end financial planning software solution.
  • GSTechnologies, a UK-listed provider of blockchain payments and financial services, acquired PAYPT, a Canadian holder of a license for foreign exchange dealing; cryptoasset dealing; money transfer services. The combined entity will be renamed Angra, with the intention of relaunching it as a B2B neobank.
  • Per Fortune, fintech Nexio (fka Complete Merchant Solutions), is selling itself. Nexio has forecast $16 million of EBITDA this year, and could sell for $176 million.
🏦 M&A - Bank and FinServ
  • Banc of California agreed to acquire regional bank PacWest with a $400 million cash infusion from Warburg Pincus and Centerbridge for 19% equity. The combined bank will have $36 billion in assets and an implied enterprise value of $2.1 billion.

📚 Deeper Reads & Features

Apps Like Robinhood Make Trading Fun, but SEC Fears It Is Costing Investors

Elon Musk the Banker Wants to Take On Dimon Where Google Failed

Sundae set out to build a kinder way to buy run-down houses. Employees say it replicated the industry's problems.

Jack Ma-Backed Ant Plans Restructuring, Paving Way for HK IPO

How instant payments will impact financial crime mitigation

Buyers Are Getting Home Loans From an Unlikely Source: The Seller of Their House

A deeper look into the relationship between cats and dogs


Have a news item for us? Reach out to news@thisweekinfintech.com