This Week in Fintech (12/12)

Hello Fintech Friends,

Please find another week’s financing events and transactions below.


Financings

  • Pico, a tech provider to financial markets, raised a $135 million round of growth funding.

  • Tink, the Swedish open banking platform, raised €85 million at a €680 million valuation.

  • Fetch Rewards, a retail transaction rewards app, raised an $80 million Series C.

  • Global payroll technology platform Immedis raised $50 million, valuing the company at €500 million.

  • Fintech and cryptocurrency trading provider to Latin America Bitso raised $62 million in new funding.

  • CHAI, an API that enables companies to connect to over 20 payment systems, raised a $60 million Series B.

  • Solactive, a German provider of index solutions to the financial services industry, raised €50 million.

  • albo, a Mexican challenger bank, raised $45 million.

  • Cleo, the app-based UK financial assistant, raised a $44 million Series B.

  • GoHenry, a US and UK prepaid card for 6-18 year olds, raised $40 million.

  • Outfund, a UK revenue-based financing platform, raised £37 million in “late seed funding.”

  • tabby, a UAE and Saudi buy-now-pay-later platform, raised a $23 million Series A.

  • Unit, the banking-as-a-service provider that wants to embed financial services into the internet economy, raised $18.6 million.

  • Updraft, a UK lending, credit report, and financial planning app, raised £16 million in equity and debt.

  • Syncteraraised a $12.4 million seed for its financial services community bank matching platform.

  • Mintos, an alternative investing platform for investing in loans across Europe, raised €7.2 million.

  • Finch raised a $3.5 million seed to build a comprehensive payroll API.

  • Pomelo Pay, which enables merchants to accept payments via QR, API, and NFC, raised a £2.1 million seed.

  • Aqua Digital Rising, which develops investable indices based on human achievement, raised $1.4 million in crowdfunding.

  • Rundit, a Finnish portfolio monitoring startup, raised €1 million in seed funding.

  • Sightline Payments received a strategic investment from Searchlight Capital Partners.

  • India’s PhonePe is in talks to spin off from parent Flipkart and raise $700 million to fund growth.

Exits and M&A

  • Robinhood hired Goldman Sachs to lead its IPO, which could value the company at up to $20 billion.

  • Link Administration Holdings, a service provider to Australian financial institutions, received a A$3.02 billion takeover bid from SS&C Tech.

  • Alliance Data completed its previously-announced acquisition of Bread Finance for $450 million.

  • Lender and consumer matchmaking platform Upstart filed for a $252 million IPO.

  • eOriginal, a financial services documentation and signature platform, will be acquired by Wolters Kluwer for $280 million.

  • JP Morgan agreed to acquire fintech 55ip to help its asset management clients with their tax liabilities. 

  • Mexican neobank Fondeadora acquired rival neobank Mibo.

  • Investment firm Apollo made an offer to take struggling ATM company Cardtronics private.

  • Reuters broke a story that China’s Ant Group is considering selling its 30% stake in Indian payment processor Paytm due to international tensions, however official sources contest the story.

  • Management and technology consultancy Capco announced its acquisition of andrion, a Swiss consultant to the financial services industry.

SPAC

  • Altimar Acquisition is in talks to combine with Dyal Capital and Owl Rock Capital, at a combined enterprise value of around $13 billion.

  • Former Fidelity Chairman Bill Foley’s Trasimene Acquisition Corp II has agreed to merge with Paysafe, valuing the payments platform at $9 billion.

  • Motive Capital, a fintech SPAC, filed for a $360 million IPO.

  • FinTech Acquisition V, a SPAC led by The Bancorp management, filed for a $215 million IPO.

  • SoFi is reportedly in talks with blank-check companies to go public.

Source: Not Boring