Growwing into a $9B Indian IPO (TWIF 9/21)

Groww, an Indian investment platform backed by Microsoft CEO Satya Nadella, filed for its IPO. The company is looking to raise ₹10.6 billion (approximately $121 million), positioning itself at up to $9 billion valuation as it aimed to expand its suite of retail investing products across mutual funds, equities, and fixed-income options.

SumUp, a UK-based fintech that provides payment terminals and digital services to small businesses, is considering going public next year and aiming for a valuation between $10 billion and $15 billion, highlighting its strong European customer base and recent expansion into lending and invoicing solutions.

Techcom Securities, a Vietnamese brokerage and investment banking arm of Techcombank, raised$410 million via an oversubscribed IPO to scale its retail brokerage, wealth management, and advisory services.

X3 Acquisition, a blank-check company, filed for a $200 million IPO targeting acquisitions in the financial services sector, with a focus on fintech, wealth management, and specialty finance companies.

MoonPay, a crypto payments infrastructure provider, acquiredMeso, a fintech startup bridging traditional finance and crypto, to accelerate its push toward building a regulated global payments network.

Nucleus, a British financial advice and investment platform, is preparing for sale amid rising demand for wealth management and consolidation in the UK adviser market. The firm manages more than £100 billion in assets on behalf of 250,000 financial advisers and saw its EBITDA rise 48% to £70.7 million in 2023.

Thomson Reuters, a global provider of news & information services, acquiredAdditive, a company specializing in AI-powered tax document processing, to enhance its offerings in automating compliance and tax workflows.

IG Group, a UK-based trading platform, bought an Australian crypto exchange to extend its exposure to digital assets and broaden its product footprint into cryptocurrency markets.

FE Fundinfo, a UK financial data and regulatory reporting provider, acquiredAlphaOmega, a Luxembourg-based specialist in asset management software, to reinforce its presence in continental Europe and strengthen its data & fund administration capabilities.

Informativ, a U.S. company focused on fraud prevention, compliance, and credit-technology for the automotive and consumer finance sectors, acquiredCarmatic, a Payments-as-a-Service platform that delivers real-time, transaction-ready loan and lease payment offers.

Sheridan Capital Partners, a private equity investor, invested in National Care Systems, which provides revenue cycle management software to healthcare providers, to support its growth and product development.

Poppins Payroll, a provider of household payroll services, launched an offering focused on trust, compliance, and ease aimed at simplifying payroll for households.