Poppy Field, Argenteuil. Claude Monet, 1875
Hello Fintech Friends,
Labor Day is past, and we have three more financial services tech providers sprinting to the exit.
Please find another week of fintech exits and deep reads below.
Have feedback for us? Let us know. Find me at @nikmilanovic, @twifintech, and @ndm
Reads of the Week
Exits
IPOs & SPACs
Figure Technologiesaimed for a valuation of up to $4.13 billion in its U.S. IPO, seeking to raise about $526 million by offering shares at $18–20 each.
Klarnalaunched a debit card rollout across Europe and filed for a U.S. IPO following a successful U.S. trial.
Geminifiled for an IPO and planned to list on the Nasdaq Global Select Market by offering 16.67 million shares at $17–19 each to raise up to $317 million.
M&A - Fintech
Shawbrook Groupacquired SME lender ThinCats, adding around a £700 million loan book and deepening its presence in UK SME lending.
FiservacquiredCardFree to integrate its order, payment, and loyalty solutions into Fiserv’s merchant platforms such as Clover.
Airwallexacquired billing platform OpenPay to bolster its recurring revenue services and better compete with Stripe Billing.
Rogo TechnologiesacquiredSubset to deliver an AI-native spreadsheet agent that automates modeling tasks for investment bankers.
AryzaacquiredBravure to enhance its digital collections and debt sale capabilities in the Australian market.
KlaracquiredBanorte’s digital bank Bineo, granting Klar access to a banking license after a prior application fell short.
Krakenacquired proprietary trading firm Breakout, enabling performance-based, funded crypto trading with institutional-grade tools.
BT Groupsold its Radianz financial information network business to Transaction Network Services (TNS) as part of a strategy to streamline international operations.
Zopaacquired UK payments infrastructure firm RVVUP to strengthen its backend payments capabilities.
M&A - Banks and Financial Institutions
JTCrejected two preliminary takeover proposals from private equity firm Permira, causing its share price to surge over 17 percent.
Aondivested a majority of NFP’s wealth business to Madison Dearborn Partners in a deal valued at approximately $2.7 billion as part of its strategy to sharpen focus on core operations.
BlackRockagreed to acquire ElmTree Funds, a net-lease-focused real estate investment firm managing $7.3 billion in assets, to strengthen its Private Financing Solutions platform.
