Exits & Deep Reads

Will Trustly finally go public? (TWIF 10/20)

GO for beginners

Hello Fintech Friends,

If you missed it this week, here was our news:

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

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From engaging discussions and networking with leaders in lending—like Kenneth Lin, Founder of Intuit Credit Karma, and Eugene Ludwig, former Comptroller, Office of the Comptroller of the Currency–the Summit sessions answer why now, what are common challenges to adoption, and how to get started with cash flow analytis.

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📖 Reads of the Week

☯️ Exits

💻 IPOs & SPACs

Private equity investor Nordic Capital is exploring options for Swedish digital payments company Trustly, including a potential sale or initial public offering. Trustly processes over $42 billion in annual transaction volume and was acquired in 2018.

🤝 M&A - Fintech

Embedded trading, settlement, and clearing provider Apex entered into an acquisition agreement with FinTron, an investor and advisor-focused design agency.
Payment facilitator Stripe is reportedly in talks to acquire stablecoin enablement platform Bridge for as much as $1 billion, which if true would be its largest acquisition to-date.
Venture capital firm Index pursued an interesting strategy in the UK, acquiring Manigo, a British banking-as-a-service and financial infrastructure provider, outright.
Aleph – a holding company parent of payments and advertising products – acquired a controlling interest in Localpayment, an Argentinian payment service provider targeting emerging markets.
Foundation Source, a solutions provider for private foundations, acquired Vennfi, the fintech company behind Charityvest, a donor-advised fund sponsor.
RegTech and compliance firm ACA acquired Effecta, a regulatory consultancy practice that supports financial services in the UK and GCC.
British account-to-account payments provider Banked got a foothold in the Australian market via its acquisition of local competitor Waave.
Buy-now-pay-later provider Klarna sold off its UK loan book to hedge fund Elliot Advisors in order to free up £30 billion of capital for growth.

🏦 M&A - Bank and FinServ

De La Rue – a literal money printer based in the UK – agreed to sell off its authentication unit for £300 million to Crane NXT, sending shares up for the 200-year old company.
Asset manager Warburg Pincus acquired a minority stake in Contabilizei, a Brazilian accounting firm, for $125 million. The firm is also pursuing a sale of its $117 billion RIA and broker-dealer network, Kestra Holdings.
Card network American Express completed its acquisition of Tock, a reservation, table, and event management technology provider.

“[Coinbase Developer Platform] also offers tools beyond pure payments infrastructure. This includes trading bots, exchange access, and connected credentials. It looks a lot like Coinbase asked “what infrastructure and access would AI agents need to engage in commerce and interact… https://t.co/k9uGYO8CNr
— Jesse Walden (@jessewldn) October 19, 2024

📺

Sponsored Content

Curious about cash flow underwriting but scratching your head about how to get started—or about which use cases actually move the needle? You’re not alone.

Luckily, you can register to watch Cash Flow Underwriting Summit recordings on demand.