Exits & Deep Reads

PayPal is looking to Xoom out (TWIF 5/21)

The Soundtrack to Tokyo’s Hidden Record Bars

Hello Fintech Friends,

A big shout-out to Trovata for recognizing our own Helen Femi Williams' podcast Hey Fintech Friends as one of the 5 Top Fintech Podcasts to Stream in 2023 and for Feedspot for including it in their 40 Best Financial News Podcasts!

If you're not yet listening to Helen's amazing news rundowns, interviews, and banter - you should be.

👍👎 Have feedback for us? Let us know!

Please find another week of fintech exits and deep reads below.

☯️ Exits

🤝 M&A - Fintech

PayPal has reportedly hired Goldman Sachs to look into selling its international money transfer subsidiary Xoom.
Scandinavian banking group Nordea acquired Swedish digital pension broker platform Advinans to strengthen its life and pension offering.
Private credit firm Castlelake will purchase a $4 billion package of consumer loans from fintech lender Upstart.
Crypto firm Ripple acquired Swiss-based crypto custodian Metaco for $250 million in cash and equity.
Treasury, payments, and risk management software provider GTreasury sold part of its business from private equity firm Mainsail to Hg.

🏦 M&A - Bank and FinServ

Japanese banking giant SBI Holdings will take its affiliated SBI Shinsei Bank private by acquiring the 27% share of the lender it doesn’t own for ¥154 billion ($1.1 billion).
Retirement and investing services provider TIAA was approved to sell a majority stake in its banking arm to a consortium of private equity firms.
Warren Buffet made a $1 billion bet on Capital One, driving shares up.
Meanwhile, Blackstone and Thomson Reuters are selling their £2.4 share of the London Stock Exchange Group.

Still recovering from the fantastic Delhi NCR Fintech Happy Hour! Infectious energy in the room to build lasting fintech products.

Thank you, Delhi! You did not disappoint.

The evening would not have been possible without our sponsors: @falconfstweets @TartanHQ & @sandbox_api pic.twitter.com/GaB3KiLFFn
— Osborne Saldanha (@os7borne) May 13, 2023

Brothers and sisters in Christ, this is not the way. pic.twitter.com/TCsHQeK4qv
— Matt Janiga (@regulatorynerd) May 19, 2023

Third grift's a charm pic.twitter.com/HJEUXssv7b
— Alex Cohen (@anothercohen) May 12, 2023

This week for the Builders Series, we highlight @wlrvs, co-founder & CEO at @fold_app!

Will works to make the earning, saving, and use of #Bitcoin silky smooth to ensure a better, more decentralized future. pic.twitter.com/ebHxyRkZw6
— This Week in Fintech (@twifintech) May 17, 2023