Hello Fintech Friends,

Fall comes around, and the fintechs get acquisitive!

Visa is buying Featurespace. Revolut is spinning out a Robinhood competitor. Indian neobank Jupiter is exploring buying a bank stake, while India's PayMate expands into Indonesia via a $400 acquisition. MENA payment platform Dgpays is buying a rival for $385 million. LightSpeed ($2 billion) and Enfusion ($1.1 billion) are looking into potential sales.

It's all happening – and more – this week in fintech.

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

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📖 Reads of the Week

Fintechs need to get proactive about setting industry standards

If companies want to keep partnering with banks to build innovative financial services, they need to stop thinking about regulation as their partner banks’ problems and start being part of the solution.

American BankerSima Gandhi

The Future of Legal Services Is Product

Partners at large law firms pass through their professional lives like swans gliding on a pond. They project calm above the water while…

MediumTom Brown

☯️ Exits

💻 IPOs & SPACs

• American neobank Chime tapped Morgan Stanley to lead its 2025 US IPO. It was last valued at $25 billion in 2021.

🤝 M&A - Fintech

• Global card network Visa acquired Featurespace, a developer of real-time artificial intelligence payments protection technology that prevents and mitigates payments fraud and financial crime risks, for £700 million according to sources.
• Revolut is spinning out its investing platform as a standalone app to compete with Robinhood and eToro. By the numbers, the app has $9.5 billion in assets, with 3 million users and 20,000 Trading Pro customers.
• Speaking of eToro, the Israeli-based global trading and investing platform acquired Australian investing app Spaceship for up to A$80 million.
• PayMate, an Indian company which helps firms simplify and digitize B2B payment processes, covering accounts payable and receivable, invoice discounting, and embedded finance, is planning to enter Indonesia via its acquisition of DigiAsia's regional subsidiary for $400 million.
• Indian neobank Jupiter, backed by its Brazilian counterpart NuBank, is in talks to acquire up to a 10% stake in Indian local bank SBM Bank.
• Lightspeed Commerce, a publicly-listed Canadian payments software platform with a market value of C$2.8 billion, is working with an advisor to explore options including a sale.
• MENA payments provider Dgpays formed a consortium with private equity firm Arcapita to acquire regional payment solutions provider Neopay for $385 million.
• Enfusion, an American software provider for asset managers currently valued at $1.1 billion, is interviewing investment banks to explore a potential sale.
• NoteMachine, a cash availability provider, acquired the ATM business of British supermarket Sainsbury's.
• School activity fund manager KEV Group acquired Gray Step Software.

🏦 M&A - Bank and FinServ

• Germany's government continues to condemn Italian bank UniCredit's attempt to become the biggest investor in – and take over – its German rival Commerzbank, with a 21% stake.
• French bank BNP Paribas agreed to buy HSBC Holdings' private banking operations in Germany, which took its local wealth management assets to €40 billion.
• London Stock Exchange owner LSEG is working with investment bankers at JP Morgan to find a buyer for its 5% stake in financial markets infrastructure provider Euroclear for around £500 million.
• Banco BTG Pactual, the biggest investment bank in Latin America, bought Miami-based multifamily office Greytown Advisors.

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🌎 Fintech Around the World

Fintech Revolut Eyes Expansion in Gulf With License Application

Wyoming’s Stablecoin Plan Is Latest Crypto Push by Cowboy State

UK: Payments Association Calls for National Payments Plan

JPMorgan Eyes More Growth in India Amid Flurry of Activity

📚 Deeper Reads & Features

How Are The Economics of BaaS Banks Doing? It Depends.

Firms jostle to sell alternative assets to wealthy investors

Plaid’s Former Billionaire CEO Has A Bold Plan To Revive Its Growth

How instant payments are transforming the trucking industry

Are “Fraud Screening” Tools Credit Reports?

What's behind Janus Henderson's Victory Park deal?

Failing Banks (Working Paper)

Five feel-good books for animal lovers

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