This Week in Fintech (6/12)

Hello Fintech Friends,

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Please find another week of fintech exits below.

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Overflow News from Friday

ANZ Bank announced paid leave for gender reassignment. NationWide pledged that it will not close any branches until 2024, bucking the bank branch closure trend, and Citibank is adding 3,000 people to its Asia business. Credit Suisse, meanwhile, is delaying its China expansion due to covid zero rules.

Jupiter Money and Onsurity partnered on affordable healthcare for SMBs. Mexico’s Finerio partnered with Ozone API and Visa to build a combined open banking tool for LatAm fintechs. Trulioo improved its proof-of-address and KYC / AML features. Flyfin launched a tax filing tool for freelancers. MoneyGram launched crypto-to-cash on the Stellar network.

Starling’s CEO threatened legal action over the remarks from the UK’s former anti-fraud minister.

☯️ Exits

🤝 M&A - Fintech

Pan-African digital payments company MFS Africa acquired US infrastructure company Global Technology Partners for $34 million.
Argentinian personal finance platform Ualá acquired neobank Wilobank.
Investment manager Abrdn pulled out of a deal to acquire Nucoro’s investing app, and instead invested in Nucoro.
Real-time payment software builder ACI Worldwide divested its corporate online banking solutions to One Equity Partners.
Small business tech provider Business Warrior acquired fintech SaaS builder Alchemy Technologies.
Professional services payment provider AffiniPay acquired MyCase.

🏦 M&A - Bank and FinServ

Banco Santander’s UK small business outfit Ebury took a stake in KYC provider LoopingOne.
Mercer Advisors continued its acquisition spree, buying Fure Financial Corporation with $260 million assets under management.
Investment advisor Lovell Minnick Partners took a stake in financial services firm London & Capital.
Bank Citizens Financial completed its acquisition of private investment bank DH Capital LLC.
Distressed debt services provider Reorg hired bank Warburg Pincus to explore selling it for $1.5 billion.
New York bank State Street denied rumors that it is looking to merge with Credit Suisse.

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