Exits & Deep Reads

Who else is coming to SXSW? (TWIF 2/26)

Lijiang 丽江 - southwest China

Hello Fintech Friends,

Want to catch up on all things fintech at SXSW?

Come join our teammates Alex and Cristina at the Fintech Fortress, featuring fintech executive panels, catered networking breakfasts and happy hours, and a killer game room and pool deck!

👍👎 Have feedback for us? Let us know!

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

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🤝 M&A - Fintech

European equities exchange operator Euronext made an offer to buy B2B wealthtech platform Allfunds for €5.5 billion in cash and stock.
Swedish climate tech startup Doconomy acquired financial wellbeing fintech Dreams Technology.
Mexican fintech startup Minu, an employee benefits and services platform, announced that it will merge with digital prepaid employee benefits card provider Plerk.
Crypto platform and investor Galaxy Digital closed the purchase of crypto self-custody platform GK8.
Indian telco juggernaut Airtel is in talks to sell off its Airtel Banking unit to payments platform Paytm in exchange for equity.
Canadian financial services giant Nuvei completed its $1.3 billion acquisition of payment platform Paya, first announced in January.
Cybersecurity solutions provider Noventiq completed its acquisition of the UAE’s Seven Seas Technology.

🏦 M&A - Bank and FinServ

The UK’s Co-operative Bank is the frontrunner in the race to buy the £650 million mortgage loan book of supermarket chain Sainsbury's. Meanwhile, UK supermarket chain Tesco is considering selling its banking arm.
Private equity giant Apollo may become a major backer of Credit Suisse’s spinoff First Boston investment banking unit - for $750 million.
New Zealand financial services firm FNZ completed its acquisition of fixed income portfolio management tech provider YieldX.

Kinda crazy that CashApp now brings in more gross profit for Block than Square.

CashApp has become such a juggernaut. pic.twitter.com/NkYwFmakI8
— Osborne Saldanha (@os7borne) February 24, 2023

Fun #fintech example I wrote about in one of articles.

I gave #ChatGPT a month of anonymized credit card transaction data and asked it some basic questions and it did a great job summarizing it!

It's especially awesome that it calls out its limitations.https://t.co/jOkyYmfVh0 pic.twitter.com/Eqx7UiEaKB
— Francisco Javier Arceo (@franciscojarceo) February 21, 2023

This week for the Builders Series, we highlight Andrey Davydchuk at @upSWOT, a white-label embedded finance and business management platform. Andrew is building tech that is changing the way FIs interact with SMBs. He is exactly the type of guy working behind the scenes! pic.twitter.com/E8hFgmzrus
— This Week in Fintech (@twifintech) February 24, 2023