Exits & Deep Reads

Indian lenders draw the attention of private equity (TWIF 6/4)

Bar San Calisto, Rome

Hello Fintech Friends,

I'll be flying to Tel Aviv in a week to host our first-ever Israeli Fintech Meetup with our friends at TLV Partners. Will I see you there?

TLV Partners is an early-stage venture capital firm investing in Israeli entrepreneurs that are pushing the boundaries of what is possible. Since 2015, the firm has backed some of Israel's most innovative fintech companies such as Next Insurance, Unit, Mesh Payments and Noble.

Please find another week of fintech exits and deep reads below. (PS: Have feedback for us? Let us know!)

☯️ Exits

🤝 M&A - Fintech

Fleetcor, a provider of prepaid card and payments services to trucking fleets, is reportedly looking into selling off its prepaid card portfolio for $500 million to $1 billion.
Private equity firm Warburg Pincus acquired over 90% of Indian small business lender Vistaar Finance for $250 million.
Predictive analytics platform for alternative bank and payment data RIBBIT (a separate entity from Ribbit Capital, the fintech investor) will acquire fraud and risk mitigation solutions provider ValidiFI.
Equiti, a Dubai-based provider of embedded trading technology services, acquired Morocco-based digital payment technology provider Cloud Invest.
Midwest private equity firm Madison Dearborn closed its $1.8 billion acquisition of money transmitter app MoneyGram.
Stripe acquired Okay, an app that analyzes engineers' productivity.
NestAway, an Indian rental property financing and management startup once valued at $227 million in a 2019 fundraising round, was acquired in a fire sale by fellow proptech Aurum for $10.9 million.

🏦 M&A - Bank and FinServ

Asian private equity firm Baring is set to buy Indian bank HDFC's education lending arm Credila for $1.5 billion.
Asset manager Franklin Templeton will buy its rival Putnam Investments for $1 billion+.
Ireland's finance ministry and British bank NatWest Group will together sell 6% of Irish bank Permanent TSB.

This week for the Builders Series, we highlight Scott Bass, Director of Product Launch Operations at Ensemblex

According to his colleagues, Scott makes running ops seem “SO EASY” and is a “lifesaver” on the team.

Congratulations Scott! pic.twitter.com/wgcoJaC7kz
— This Week in Fintech (@twifintech) May 31, 2023