Hello Fintech Friends,

Two more great fintech events in the books this week! First, Osborne hosted our first fintech Delhi meetup of the year, then Cristina and the Community team hosted our spring meetup in New York.

If you're based in India, come join us next Thursday in Mumbai -

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

Clutch, a state-of-the-art digital lending solution for Credit Unions, faced inefficient and expensive challenges building the infrastructure to offer, transfer and refinance consumer loan products. They turned to Method for help.

Method’s API allows consumers to link all their outstanding liability accounts using their PII  - no credentials required. End users get access to real-time account data such as balances, bill payment date, APRs and more. By working with Method, Clutch has helped credit unions originate over $300M in funded loan volume across 50k+ members.

Find out how we did it >

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☯️ Exits

🤝 M&A - Fintech

• Irish private equity firm VentureWave acquired a majority stake in blockchain-based angel investing platform Funderbeam for €40 million.
• E-commerce marketplace builder Shopify is selling off its Shopify Logistics arm (built on top of its 6 River Systems acquisition) to end-to-end logistics software Flexport.
• Following its latest fundraise of $35 million, cash-flow based consumer credit card company Petal sold off its credit-scoring-as-a-service data unit Prism as a standalone company.
• Global neobank Revolut is reportedly eyeing an acquisition in the buy-now-pay-later space.
• Ant Group is reportedly talking to investors about selling a stake in its Hong Kong virtual bank.
• Investment firm Prosus is working with Bank of America to explore a sale of the non-Indian fintech assets of its payments portfolio company PayU for up to $800 million.

🏦 M&A - Bank and FinServ

• Global bank HSBC reached a deal to buy out its China investment joint venture.
• Citibank is nearing a deal to sell off 90% of its Mexican retail banking unit, Banamex, to conglomerate Grupo Mexico for $7 billion.
• Investment bank and financial services group Canaccord hit a regulatory stumbling block in the proposed plan for its senior executives to buy it out.
• Regulatory concerns were also behind the abandoned $13.4 billion merger of Canada’s Toronto-Dominion Bank and First Horizon, as regulators raised concerns about TD’s anti-money laundering systems.

🌎 Fintech Around the World

Once darlings of investors, Africa’s B2B e-commerce startups are struggling to survive

📚 Deeper Reads & Features

Building an Open Finance Future: Safe and Reliable Connectivity for All

Why MercadoLibre keeps soaring as other e-emporiums sink

Why Consumer Fintech Is Alive And Well

Tarsadia: Part III — Digital Asset Technology: Institutional Trading Tools

JPMorgan: the bank that never lets a crisis go to waste

JPMorgan could be the banking sector's biggest hero — or biggest risk

Mercury has attracted over $2 billion in deposits since SVB fell. Now its CEO is trying to convince startups to stick around

Fed Reveals 722 Banks Reported Unrealized Losses Over 50% of Capital as Concerns Over US Banking Crisis Grow

Unveiling China's Blockchain Dominance: Myth or Reality?

Revolut CEO claims banking crisis is delaying UK license application

Key data trends driving success for wealthtech startups

How To Close The Financial Inclusion Gaps For Black Americans

How safe are online banks or fintechs from collapse?

Mastercard Doubling Down on Crypto, Blockchain Efforts With New Offering

Argyle Leads Payroll Connectivity With Highest-Converting Income and Employment Data Network

Rottweiler Has The Most Surprising Reaction To Meeting A Tiny Puppy

Nearly extinct red wolves welcome litter of pups at WNC Nature Center

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