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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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Webull announces a $7B SPAC (TWIF 3/3)

Webull announces a $7B SPAC (TWIF 3/3)
"Crossing Over," Kenichi Ohno

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Hello Fintech Friends,

The Webull SPAC is just one of two potential $7 billion fintech deals announced this week... Stripe tendered an offer at $65 billion. Adyen passed $1 trillion in annual payment volume. Marqeta's total processing volume surged 33%.

Bet against fintech at your own peril.

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


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📖 Read of the Week

As always, Marc Rubinstein lays out a masterful overview of Capital One's Discover acquisition,

The Third Network
Capital One’s Pursuit of the Holy Grail

And Contrary dives into embedded finance, fintech infrastructure, and banking-as-a-service:

Report: The Great Bank Unbundling | A Contrary Research Deep Dive
In this fintech report from Contrary Research, we take a deep dive into the evolution of embedded finance, and how banking infrastructure will evolve in the future.
☯️ Exits
💻 IPOs & SPACs
  • Global stock trading platform Webull announced this week that it expects to go public in the second half of this year via combination with SK Growth Opportunities Corporation, a SPAC anchored by SK, the South Korean conglomerate, at a $7.3 billion valuation.
  • Klarna reported a $241 million net loss, but 22% revenue growth, as it prepares to IPO this year.

We may see more fintech IPOs and M&A now that Cross River is opening its own fintech investment bank.

🤝 M&A - Fintech
  • Financial conglomerate Fiserv and Amadeus IT Group are competing to acquire Shift4 Payments, a payments processor that has a market value of nearly $7 billion.
  • Ziff, a Mexican financial solutions provider, announced its acquisition of the digital lending company Arrenda.
  • Intapp, a provider of AI-powered software for professionals in capital markets, announced an agreement to acquire delphai, a German software company specializing in applied AI.
  • Nordic Capital, a European private equity firm, acquired financial institution risk management and regulatory compliance provider ActiveViam.
  • FTX settled a lawsuit that sought to claw back $323 million from acquiring Digital Assets DA AG, instead agreeing to sell the company back to its founders for $32.7 million.
  • Brokerage B. Riley is exploring a strategic sale of some of its assets as shares slump.


🏦 M&A - Bank and FinServ
  • SCB X, Thailand's biggest bank, agreed to buy consumer lender Home Credit Vietnam for $860 million to widen its regional footprint.
  • Spanish bank Santander is planning to buy a 33% stake in Spanish venture capital firm Seaya for an undisclosed sum.
  • Chinese fintech giant Ant Financial won an auction against investment firm Citadel for Credit Suisse’s China investment arm.
  • Italian bank UniCredit is evaluating an acquisition of private equity-owned banking tech and services provider Vodeno.
  • Barclays bank is selling off $1.1 billion of its US credit card debt to private equity group Blackstone.


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🌎 Fintech Around the World

G20 Lays Out Cross-Border Payments Roadmap

Japan Moves to Allow Investment Funds to Hold Crypto

Meet The Coolest UAE Startups Making Everyone’s Life A Little Bit Easier

📚 Deeper Reads & Features

Searching for the "Amazon" of Financial Services

Your tax return is secret by law. TurboTax wants you to give up your privacy.

What broke Paytm?

How Klarna’s boardroom spat exposed a schism at Sequoia Capital

Why We Built Novo For Vision Pro

Google Pay replaced Google Wallet — now it’s going away to make room for Google Wallet and Simplifying our payment apps in the U.S.

Big investors grow nervous about private credit boom

Investors plough record amounts into US farmland (h/t Fintech Collective)

Top Management and Performance Challenges Facing the FDIC

What's going on in banking - 2024

How Fintech Is Disrupting Traditional Banks in 2024

The Use of GenAI and Embedded Finance in Non-banking and Fintech Applications

CFPB Report Finds Large Banks Charge Higher Credit Card Interest Rates than Small Banks and Credit Unions

Private Credit Moves Into Banks’ Infrastructure Lending Turf

Financial systems take a holiday

Teacher's puppy therapy program encourages 1st graders to read


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