Financial Technology Partners / FT Partners

This week in #FinTech deal activity: 56 financings and 22 M&A transactions ?? Highlights include Robinhood’s largest acquisition to date – the $300 million purchase of wealth management platform TradePMR – and a lack of $50 million+ capital raises, compared to five announced last week. ?? View or download the weekly infographic below or here: https://lnkd.in/eT6q-JNP ?? Largest / Notable Deals This Week: ? Healthcare financial assistance platform TailorMed raises $40 million in debt and equity financing led by Windham Capital Partners ? AI-powered insurance underwriting platform Federato raises $40 million in Series C financing led by StepStone Group ? US equities alternative trading system OneChronos raises $32 million in financing led by Addition ? UK-based payment orchestration platform for airline and travel industries CellPoint Digital raises $30 million in financing from Toscafund Asset Management LLP and Penta Capital LLP ? Mexico-based employee benefits platform minu raises $30 million in Series B financing led by QED Investors ? Robinhood agrees to acquire TradePMR, a custodial and portfolio management platform for RIAs, for approximately $300 million in cash and stock Goodstack, QPLIX | Wealth Management Software, Zopper, AXCS, Apaleo, Numerated, Moody's, KatRisk, Axeptia - Credit Intelligence , Paxos, Celcoin, Grow My Money

It was great to attend the first Financial Technology Partners / FT Partners Fintech Conference, get exposed to awesome business models and meet bright people! Great job, FTP team! ????

We are excited to announce our inaugural FT Partners FinTech Conference hosted by our Equity Research department with a fantastic agenda of public and private companies. The event will be held in New York City on Wednesday, November 20th, 2024. There are limited seats still available -- please email [email protected] if you are interested in attending in person.

This week in #FinTech deal activity: 70 financings and 25 M&A transactions ? ?? #LatAm FinTech investment activity continues to ramp up as Argentinian challenger bank Ualá raises $300 million in its Series E round – the largest FinTech capital raise in the region in over two years. Sweden-based buy now pay later company Klarna, recently valued at more than $14 billion, confidentially filed for a US IPO, joining a handful of other FinTech companies on file in the US: Solera Holdings, LLC., Circle, Apex Fintech Solutions and Chia Network. ? ?? View or download the weekly infographic below or here: https://lnkd.in/eCpp-NBS ? ?? Largest / Notable Deals This Week: ? Argentina-based challenger bank Uala raises $300 million in Series E financing led by Allianz X ? Canada-based challenger bank Neo Financial raises C$110 million (~$79 million) in Series D equity financing ? Saudi Arabia-based FinTech Infrastructure / Open Banking platform Lean Technologies raises $68 million in Series B financing led by General Catalyst ? Rural India-focused lending platform SarvaGram raises ~$67 million in Series D financing led by Peak XV Partners ? Italy-based payments app Satispay raises €60 million (~$64 million) in financing from Addition, Greyhound Capital, and Lightrock ? SIX agrees to acquire Aquis Exchange, an operator and technology provider of pan-European financial markets and exchanges for an EV of ￡194 million (~$251 million) Agicap, 0G Labs, FASST, UPTIQ, Trolley, aixigo, Amundi, Bitsight, Prevedere, Board, Celero Commerce, Precision Payments, Inc., Kaiko, Vinter, a Kaiko company, Crypto.com

?October #FinTech Deal Activity Recap: $5.3 billion in Financing Volume and $8.0 billion in M&A Volume ?? Financing: ? FinTech financing volume represented the highest monthly volume so far this year and an increase of more than 30% over the year-ago period. ? The rise was driven by a surge of $100 million+ funding rounds, with 14 announced, the highest level since July 2022. ? The two largest financing deals were strategic investments: LSEG (London Stock Exchange Group) acquired an additional minority stake in its clearing house subsidiary LCH and Mitsubishi Corp acquired half of Ayala’s stake in Philippines-based digital wallet Mynt. ? Later-stage investment activity also came back into focus – international money transfer company Zepz raised $267 million – the largest FinTech Series F round in the last two years. Further, both Zip, a procurement / spending platform and Melio, an SMB payments platform announced valuations of more than $2 billion, though in Melio’s case, this was a recalibration from its 2021 valuation of $4 billion. ? Emerging markets investment activity experienced an uptick as of late, with notable deals by Brazil-based billing / AR automation company ASAAS and Nigeria-based SMB payments and banking platform Moniepoint Group. ?? M&A:? ? FinTech M&A activity remained robust in October with the highest deal count since January 2022. ? In particular, private equity-led deal activity in 2024 YTD already surpassed last year’s levels. Silver Lake and GIC’s $1.7 billion acquisition of subscription billing platform Zuora was the eighth $1 billion+ take-private PE deal in the FinTech sector this year. ? Notable strategic mergers in October included Kazakhstan-based Kaspi.kz’s acquisition of Turkish e-commerce platform Hepsiburada, valued at just over $1.7 billion and Stripe’s $1.1 billion acquisition of 2.5-year-old Bridge, a stablecoin infrastructure platform. ? The Stripe / Bridge deal, which represents the largest-ever M&A transaction in the Crypto & Blockchain sector, solidifies Stripe’s renewed focus on the space after a six-year hiatus from offering crypto-related payments options. ?? View or download the monthly infographic below or here: https://lnkd.in/eumCVVYp Transaction profiles published in October: ? TrueLayer Raises $50 million in Financing: https://lnkd.in/eiV9iQKu ? Zepz Raises $267 million in Series F Financing https://lnkd.in/eqXr4v_q ? Imprint Raises $75 million in Series C Financing https://lnkd.in/g8QaJFvK ? Asaas Raises ~$150 million in Series C Financing https://finte.ch/Asaas ? GTCR LLC and Recognize Acquire TRANZACT for $632 million https://lnkd.in/e6WCGhyZ ? Experian Acquires ClearSale for ~$350 million https://finte.ch/ClearSale ? Farther Raises $72 million in Financing: https://finte.ch/Farther ? Stripe Acquires Bridge for $1.1 billion: https://lnkd.in/eDJADcXk ? Melio Raises $150 million in Series E Financing: https://lnkd.in/gsEBgSUw

This week in #FinTech deal activity: 52 financings and 28 M&A transactions ??? Given the major news coverage around the US presidential election this week, unsurprisingly more than 70% of capital raises announced were for companies based outside of the US, compared to 45% last week. ? ??? View or download the weekly infographic below or here: https://lnkd.in/ez_QzBPW ? ??? Largest / Notable Deals This Week: ? Cloud crypto mining platform CrytocoinMiner raises $100 million in financing from Nomad Capital, No Limit Holdings, Sky9 Capital and more ? FI regulatory compliance solutions provider Kaizen secures a ￡42 million (~$54 million) minority investment from Guidepost Growth Equity ? India-based home finance platform Easy Home Finance Limited raises $35 million in funding led by Claypond Capital and SMBC Asia Rising Fund ? UK-based business bank Recognise Bank raises ￡25 million (~$32 million) from Parasol V27 ? Spain-based VAT compliance and e-invoicing tech company Marosa raises €12 million (~$16 million) in financing from Aquiline Capital Partners ? FIS acquires digital business banking and cash management solutions provider Dragonfly Financial Technologies from One Equity Partners MODIFI, Fractional, Tesouro, iDWELL, vlayer Labs, First Connect Insurance Services, Centana Growth Partners, Health Catalyst, Ripjar, Long Ridge Equity Partners, BlinkPay, Bank of New Zealand, Pepper Advantage, Encapture

This week in #FinTech deal activity: 37 financings and 18 M&A transactions ?? Highlights include Moniepoint’s $110 million financing – one of the largest African FinTech Series C rounds ever – and the sixth $1 billion+ private equity buyout of a Healthcare FinTech company so far this year with Francisco Partners’ acquisition of AdvancedMD. ??? View or download the weekly infographic below or here: https://lnkd.in/ej77-8Z6 ??? Largest / Notable Deals This Week: ? SMB payments platform Melio raises $150 million in Series E financing led by Fiserv at a $2 billion valuation, down from $4 billion in 2021 ? India-based alternative lender (NBFC) Finova Capital raises $135 million in funding led by Avataar Venture Partners, Sofina and Madison India Capital ? Nigeria-based SMB payments and banking FinTech company Moniepoint Group raises $110 million in Series C financing led by Development Partners International (DPI) ? Property management platform DoorLoop raises $100 million in Series B financing led by JMI Equity ? India-based home financing company Vridhi Finserv Home Finance Limited raises ~$37 million in financing led by Norwest Venture Partners ? Francisco Partners acquires medical office software provider AdvancedMD for $1.1 billion from Global Payments Inc. which had acquired the business in 2018 for $700 million Reflexivity, Zinc, Elevate.inc, Billd, Wildfire Systems, Inc, Eckoh, Fingercheck, Edison Partners, Bridgepoint, Paytronix, The Access Group, FactSet, iCapital, Carta

This week in #FinTech deal activity: 70 financings and 26 M&A transactions ?? Highlights include the largest FinTech Series D round raised this year –procurement platform Zip's $190 million financing – and the largest strategic M&A deal ever in the Crypto & Blockchain sector with Stripe’s $1.1 billion purchase of Bridge. ? Reminder, FT Partners will have a team at Money20/20 in Las Vegas in just a couple of days! Let us know if you would like to meet up during the conference. Please reach out here: [email protected]. Hope to see you there! ?? View or download the weekly infographic below or here: https://lnkd.in/ecFrChyy ?? Largest / Notable Deals This Week: ? LSEG (London Stock Exchange Group) bought an additional 8% stake in London-based clearing house LCH, in which it already owns a majority stake, for EUR 433 million (~$468 million) ? AI-powered procurement / spending platform Zip raised $190 million in Series D financing led by BOND at an increased valuation of $2.2 billion ? Mortgage servicing platform Valon raised $100 million in Series C financing led by WestCap Group ? UK-based saving and investing platform Moneybox raised GBP 70 million (~$90 million) in secondary financing led by Apis Partners, bringing its valuation up to GBP 550 million (~$714 million) ? Payment processor and embedded payment platform Finix raises $75 million in Series C financing ? Stripe agreed to acquire stablecoin payments infrastructure platform Bridge for $1.1 billion Arab Financial Services, Interos Inc, Tennr, Obligo, Socure, AppFolio, BM Technologies, Inc. (BMTX) f/k/a BankMobile, American Express, CoStar Group

?FT Partners is pleased to announce the publication of our Q3 2024 FinTech Insights report, providing the most comprehensive review of global #FinTech deal activity with analysis across private company financings, IPOs, and M&A transactions. ?? ??The third quarter of 2024 wrapped up with public markets at all-time highs, again, much-awaited interest rate cuts and a positive US economic outlook. Still, a level of hesitation hangs in the air with unknown outcomes of the imminent US presidential election and ongoing global armed conflicts. The FinTech sector built further momentum in Q3 as it worked through the ongoing period of recalibration. The "bid-ask spread" between entrepreneurs and investors seems to be narrowing as deals come to fruition. In fact, the total number of transactions, across M&A and financing, rose more than 35% Y-o-Y. Annualizing total FinTech deal volume for the first three quarters of the year implies 2024 reaching somewhere above the lows of 2023 and 2022, and just under the levels from 2019 and 2020. Total deal activity volume has already surpassed full-year 2023, even when excluding the pending $35 billion merger of Discover and Capital One announced in Q1. ? Private company funding volume appears to be normalizing, recording an average of $13 billion over the last eight quarters, with Q3 2024 right above that level at $13.5 billion. ? Notable late-stage financing activity included $1 billion capital raises for wealth management platform FNZ and insurance claims tech solutions provider Sedgwick.? ? Revolut reached a valuation of $45 billion, a $12 billion increase from its valuation in 2021, and Stripe's valuation rose to $70 billion, though still down from its peak valuation of $95 billion in 2021. ? Taking a look at early-stage activity, so far in 2024, the Financial Management Solutions sector (which includes Office of the CFO) leads as the most active in terms of number of Series A rounds, while the most money has been poured into Crypto & Blockchain Series A deals, nearly $1.3 billion, as positive sentiment around the future of crypto swells. ? Private equity-led M&A activity continued to strengthen in Q3, with 2024 YTD volume already up more than 60% over the full-year 2023 level. The two largest M&A transactions announced in the quarter were multi-billion-dollar take-private buyouts of R1 RCM and Envestnet.? ? Strategic acquisition activity was on the rise as well, with deal count growing 40% over the year-ago period, with notable acquisitions by Mastercard, Visa, SS&C, Experian and more. ? One US FinTech IPO took place in Q3 – enterprise financial management platform OneStream raised $490 million, climbing 70% over its IPO price by the end of Q3 – for a total of nine FinTech IPOs so far this year, globally. See more details including the largest deals, most active investors, and regional and sector trends in the full report. ???View or download the report here or below: https://lnkd.in/exQr6vZD

This week in #FinTech deal activity: 54 financings and 33 M&A transactions ?? Zuora’s $1.7 billion proposed acquisition by Silver Lake and GIC is the eighth $1 billion+ take-private PE deal in the FinTech sector announced this year. PE-led FinTech M&A deal volume in 2024 YTD is up more than 65% compared to full-year 2023. ? Reminder, FT Partners will have a team at Money20/20 in Las Vegas later this month. Let us know if you would like to meet up during the conference! Please reach out here: [email protected] ?? View or download the weekly infographic below or here: https://lnkd.in/eCbgSF8h ?? Largest / Notable Deals This Week: ? Bitcoin infrastructure firm Blockstream secures $210 million convertible note financing led by Fulgar Ventures ? Financing platform for Brazilian farmers Agrolend raises $53 million in Series C financing led by Creation Investments and Syngenta Group Ventures ? Nigeria-based Stablecoin on/off ramp platform Yellow Card App raises $33 million financing led by Blockchain Capital ? Sales commission software provider Everstage raises $30 million in Series B funding led by Eight Roads ? Real estate investment management platform Backflip raises $30 million in equity financing from ECMC ? France-based cyber InsurTech company Sto?k raises €25 million (~$27 million) in its Series B round led by Alven ? Silver Lake and GIC agree to acquire subscription / recurring billing platform Zuora (NYSE:ZUO) for $1.7 billion Bitnomial, Healthie, Tebi, Omnea, Kestra Financial, Stone Point Capital, Manigo , Invex Ventures, WorkForce Software, ADP, DataSnipper, CoinDesk, CCData