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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.

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Visa's jogo bonito (TWIF 7/2)

Visa's jogo bonito (TWIF 7/2)
Praia, Cabo Verde

Hello Fintech Friends,

🤑 This week’s fintech exit news was dominated by Visa’s long-rumored acquisition of Brazilian payments provider Pismo for $1 billion, which it beat Mastercard in a bid to acquire. Pismo processes almost 50 billion API calls and $40 billion in transaction volumes annually, with clients in Brazil as big as Citi. The ‘startup’ now also operates in several countries across Latin America, including Mexico and Chile, as well as the U.S., Europe, India, Southeast Asia and Australia. Visa will use Pismo’s technology to provide core banking and issuer processing capabilities across debit, prepaid, credit and commercial cards.

Now the race is on for the next geographically-dominant payment processors.

☀️ We’ll be taking a break next weekend (July 7th, 8th, and 9th) but will be back with more great fintech in your inbox the week following!

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


☯️ Exits
🤝 M&A - Fintech
  • Digital ID and KYC furnisher Socure (last valued at $4.5 billion) acquired its smaller rival Berbix for $70 million in a mixture of cash and stock.
  • Finder, a financial management and advice platform, announced that it will acquire Finch, the wealth management platform that lets customers earn and invest with cash back. (Separate from the API for employment provider also named Finch.)
  • Corporate card and expense management provider Ramp acquired AI-enabled customer service provider Cohere, which previously raised $3.5 million.
  • Banking-as-a-service provider BM Technologies announced an agreement to purchase digital banking provider Envel’s software technology.
🏦 M&A - Bank and FinServ
  • Laser Digital, the digital asset exchange business of Japanese bank conglomerate Nomura, will acquire trading solutions provider Elysium.
  • Asset manager Ares acquired a $3.5 billion portfolio of loans from regional bank PacWest to help it get the debt off its balance sheet.
  • Enento Group Oyj, a Scandinavian credit bureau, is reportedly eyeing a sale after takeover interest from US bureau TransUnion and private equity firm Apax.
  • Japanese banking conglomerate MUFG will acquire Indonesian car loan provider Mandala for Rp 7 trillion ($467 million).
  • Goldman Sachs will take a writedown on the sale of digital installment lender GreenSky, which it acquired in 2021 for $2.24 billion. One bidder said the origination platform is worth roughly $300 million, while another said it was worth closer to $500 million.
  • Enfusion, a provider of cloud-based portfolio management and risk systems to investment funds, is receiving takeover interest from private equity firms and strategic buyers at a valuation around $1 billion.

🌎 Fintech Around the World

3 FinTechs streamlining cross-border payments in Argentina

How fintech hub Vilnius is trying to attract international tech talent

Salt Lake City Ups the Ante in Bid to Become a Fintech Hub

📚 Deeper Reads & Features

On Banking FinTech's (Part 1)

Sharing Our Field Notes: The State of Generative AI in Financial Services

AI gains momentum in core financial services functions

Popularity of Apps for Early Paydays Masks Added Risks

The B2B Fintech Pricing Journey

The rise of the 'finfluencers' (by our own Helen Femi Williams!)

What is Stripe? Inside the tech stack of the highest paying fintech

This ChatGPT-powered AI tool can help you haggle to save money on bills

CFPB Report Identifies Issues with Increased Servicemember Use of Digital Payment Apps

Bank-fintech partnerships come under closer scrutiny from US bank regulators

Big US banks would lose $541bn in doomsday scenario, predicts Fed

US banks step up sales of loan portfolios to private lenders

Golden Retriever Puppy Trying To Work Out How To Use Stairs


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