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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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A fintech SPAC and IPO, what is this 2021? (TWIF 6/18)

A fintech SPAC and IPO, what is this 2021? (TWIF 6/18)
Matera, KB

Hello Fintech Friends,

Fintech exits are happening at a blistering pace, with with one upcoming IPO, a SPAC, and fourteen fintech acquisitions (two for over $1 billion) all announced in the last week.

Separately, if you've ever wanted to know what is happening in the Chinese fintech market, look no further - our China Editor Ning Ye has you covered:

👍👎 Have feedback for us? Let us know!

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


☯️ Exits
💻 IPOs & SPACs
  • A wealth management platform and ‘fintech-as-a-service’ technology provider named New Quantum Holdings has found a suitor in SPAC Canna-Global Acquisition Corp and will go public on the Nasdaq at a pro forma enterprise value of $800 million.
  • CAB Payments, a unified API to route bulk payments to multiple different payments providers, will go public on the London Stock Exchange this year.
  • Nium, a global real-time payments provider, has said that it will go public in the next two years.
🤝 M&A - Fintech
  • Global stock exchange Nasdaq will make the biggest acquisition in the company’s history, buying Adenza, a provider of software used by banks and brokerages, for $10.5 billion in a cash-and-stock deal.
  • Financial services giant FIS confirmed that it will acquire Bond, the banking-as-a-service company that previously raised $42 million at a $182 million valuation. The purchase price was undisclosed.
  • Alfa Financial Software, a UK builder of software for the asset management industry, received several buyout offers at around a $773 million valuation.
  • Private equity firm Nordic Capital is pursuing an acquisition of banking software provider Temenos for around its $5.4 billion market cap.
  • MENA payments infrastructure provider NymCardb announced the acquisition of Spotii, a buy-now-pay-later provider in the UAE, Saudi Arabia, and Bahrain.
  • Engagement banking vendor Backbase acquired UK digital wealth platform Nucoro.
  • Private equity firm Levine Leichtman took over a portion of control of regulatory software provider Cleversoft.
  • Financial services interoperability vendors Glue42 and Finsemble have agreed to merge, creating a new company called Interop.
  • Wealthtech consulting company F2 Strategy acquired its rival consulting provider Oakbrook Solutions.
  • Online payroll, benefits, and HR provider Trinet hired Morgan Stanley to help it explore a potential sale at a $7 billion price point.
  • Optasia, a UAE provider of credit decisioning software, hired Moelis to help it explore a potential sale.
  • Crypto payment processor BCB Group terminated its deal to acquire 100 year-old German bank Sutor Bank, citing regulatory headwinds.
🏦 M&A - Bank and FinServ
  • Asset management giant Blackrock announced that it was acquiring a minority stake in small business 401(k) provider Human Interest. While the price was not disclosed, the company has raised $500 million to-date.
  • Private equity firm Bain Capital will sell a stake worth $267 million in India's Axis Bank.
  • Numerous private equity firms are circling Goldman Sachs’ acquired fintech lender Greensky, reportedly looking at a purchase that would result in a $500 million writedown for the investment bank.
  • Customers Bancorp agreed to acquire a $631 million. venture banking loan portfolio from the FDIC.

🌎 Fintech Around the World

How Non-Banking Entities are Disrupting Canada's Financial Landscape and Driving Embedded Finance Forward

📚 Deeper Reads & Features

Fintech's banking-as-a-service sector struggles

NatWest's Digital ID innovation and BAaaS (Banking Authentication-as-a-Service)

How well are SaaS, e-commerce, fintech and health tech startups doing in 2023?

Big banks are talking up generative A.I. — but the risks mean they’re not diving in headfirst

The Profitability Myth: Neobanks are Here to Stay

Binance lawyers allege SEC Chair Gensler offered to serve as advisor to crypto company in 2019

Black bear swimming at Florida beach baffles sunbathers


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