This Week in Fintech (11/6)

Hello Fintech Friends,

We’re looking for someone who is passionate about fintech to run our social media. We need to shake up our Twitter, Instagram, and LinkedIn with real-time fintech news (and spicy takes), to give people updates as they happen - without waiting a week for the newsletter. If you’d be interested in joining us to do this part-time, let us know.

Please find another week of fintech financings and exits below.

Editor’s Note: If you’re an early-stage startup founder raising equity or debt, we may be able to help - please see our primer for more details and reach out to nik@thisweekinfintech.com.

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💸 Venture Financing

CME Group, one of the largest American exchanges, will receive $1 billion in investment from Google (where I work), alongside a cloud computing deal.
Mynt, the Filipino developer of the country’s popular GCash payment app, raised $300 million at a $2 billion valuation.
Honeybook, a financial management platform for freelancers and solo entrepreneurs, raised a $250 million Series E.
Plate IQ, an accounts payable and payments automation platform for the hospitality industry, raised a $160 million Series B.
Chipper Cash, the Nigerian payments platform, raised a $150 million Series C extension from FTX at a $2 billion valuation.
Moonfare, a German platform exposing private equity investing to retail investors, raised a $125 million Series C.
Prepaid Technologies, an Alabama maker of prepaid digital payment solutions, raised $96 million.
Fi, an Indian neobank, raised a $50 million Series B.
Valon, a residential mortgage loan servicing platform, raised $43.9 million.
Fintual, a Chilean asset management platform, raised $39 million.
Laika, a compliance solution for financial institutions, raised a $35 million Series B from investors including JP Morgan and PayPal.
Neuro-ID, an anti transaction fraud platform, raised a $35 million Series B.
Float, a Canadian corporate card provider, raised a CAD$37 million Series A.
First AML, a New Zealand anti-money laundering service, raised a $21 million Series B.
GeoWealth, an asset management platform, raised a $19 million Series B.
Autochek, an auto financing platform based out of Nigeria, raised a $13.1 million seed round.
Tarabut Gateway, a Dubai and MENA-focused open banking platform, raised a $12 million pre-Series A.
Checkbook, an online push-payments processor, raised a $10 million Series A.
Stitch, a South African financial services API, extended its seed round to $6 million as it expanded to Nigeria.
Nimbla, an invoicing insurance platform, raised £5.1 million from investors including Barclays Bank.
RightRev, a cloud-based finance and accounting solutions provider, raised $5 million.
Accrue Savings, a merchant-embedded savings app, raised $4.7 million.
Quartr, a Swedish investor relations startup, raised $4.5 million.
Payhippo, a Nigerian small business lender, raised a $3 million seed round.
Lemonade Finance, a Nigerian remittances app, raised a $725,000 pre-seed.
CashInvoice, an Indian supply chain working capital platform, raised money from Accion Venture Lab.
Leslie, a QR code restaurant payment app, raised a seed round.
Karta, a “gift card disruptor,” raised funds from Australia’s Commonwealth Bank.

☯️ Exits

💻 IPOs

Indian payments platform Paytm raised $1.1 billion in the country’s largest ever anchor round to an IPO.
Nerdwallet stock jumped 91% in its IPO debut, giving the company a $2 billion valuation.
Nubank filed their F1 and the numbers are staggering, with plans to raise up to $3.7 billion (and to open the IPO to retail investors).
Crypto Blockchain Industries, a French blockchain builder for financial services, listed on the Paris Euronext Growth stock exchange.
Expense management platform Expensify is looking to raise $280 million in its upcoming IPO at a $2 billion valuation.
Texas bank Third Coast Bancshares announced the launch of its IPO.

📈 SPACs

Real-time market data provider TradeStation Group announced that it will go public through a combination with Quantum FinTech Acquisition Corporation.
Anthemis Digital Acquisitions I Corp, a fintech-focused SPAC, announced the close of its $230 million IPO.
AIB Acquisition, a fintech-focused SPAC from the founder of American International Bank, filed for a $75 million IPO.
Zeus Acquisition lowered its fintech SPAC deal size from $440 million to $300 million.

🤝 M&A - Fintech

Argentinian personal financial management app Ualá acquired ABC Capital, a Mexican bank.
Singaporean small business financing platform Validus announced that it will acquire expense management technology provider KlearCard.
Consultancy Accenture acquired BCS Consulting, a firm with specialties in payments, Open Banking, operational resilience, financial crime and cost optimisation.
Asset management group abrdn will acquire the subscription-based investment tips platform Finimize.
Institutional crypto custody and functionality solution provider NYDIG acquired social media micropayments service Bottlepay.
Danish cloud payments and subscription platform Reepay will acquire its German rival billwerk.
ShopBack, a Singaporean cash-back service, will acquire buy-now-pay-later lender Hoolah to expand its product suite.
E-Settlement, a Nigerian consumer financial services provider, announced its acquisition of Ivory Coast’s QuickCash.
Rectangle Health, a healthcare financial technology provider, was recapitalized by GI Partners.
Coinbase is acquiring Agara, an Indian ML-enabled user support platform, for $40 million.
Klarna continued its absolute acquisition spree by buying out PriceRunner, a Nordic shopping comparison site with 3.4 million products from 22,500 retailers in 25 countries.
Link Administration, an Australian shareholder registry, is considering an A$2.81 billion offer from Carlyle Group.
7Ridge, a private equity firm, will acquire Trading Technologies, a derivatives dealing platform.
Resurgens, a software-focused private equity firm, sold its portfolio company Investment Metrics to Confluence Technologies for $500 million.
Risk and compliance firm Wolters Kluwer will acquire LicenseLogix, a provider of US business licensing.
Private equity firm Pretium announced that it will acquire residential real estate lender Anchor Loans.

🏦 M&A - Bank and FinServ

SoftBank is considering a sale of Fortress, the asset manager it bought for $3 billion in 2017.
Asset manager Franklin Templeton announced that it is buying private equity investment specialist Lexington Partners for $1.75 billion.
Metro Bank, a UK retail bank, received a takeover bid from Carlyle Group 31% above its $242 million closing price.
Thailand’s Siam Commercial Bank announced that it will acquire a controlling stake in Thai bitcoin exchange Bitkub Online Co.
Cross River Bank is playing different games with its acquisition of lending fintech Betterfin.
Personal investing platform Vestwell acquired Sumday, a college savings platform, from bank BNY Mellon.

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