ABN AMRO Aquires BUX, Pleo And Apex Eye IPO

TGIF! ??

Straight from Amsterdam, ABN AMRO Bank has announced its acquisition of neobroker BUX. This significant deal, expected to close in 2024, excludes BUX's cryptocurrency operations (now we probably know why they let go of their complete crypto team in April this year) and awaits regulatory approval.?

BUX, established in 2013 and boasting over 500,000 clients, endured a tumultuous 2023, including a withdrawn acquisition by N26 and an exit from the UK market. This acquisition marks a new chapter for both entities, with BUX's CEO Yorick Naeff eyeing leadership in Europe's retail investment sector.

Meanwhile, the $4.7 billion European FinTech giant Pleo has brought on S?ren Westh Lonning as its new CFO , signaling a possible IPO on the horizon.

Lonning, with a rich background in financial services, aims to steer Pleo towards profitability amidst challenging economic conditions. While Pleo isn't rushing to go public, this strategic move suggests preparations for a future stock market listing.

Apex Fintech Solutions, known for its digital clearing and custody services, has confidentially filed for a U.S. IPO. After an unsuccessful public listing attempt in 2021, the company is poised for its second foray into the IPO arena.

With these developments, one can't help but wonder if we'll see a surge in fintech IPOs in 2024.

What do you think? Let me know!

Cheers,

Marcel

POST OF THE DAY

A snapshot of ???? Mexico’s most popular Banking Apps by Latinometrics ??

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FINTECH NEWS

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DIGITAL BANKING NEWS

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BLOCKCHAIN/CRYPTO NEWS

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M&A

???? Dutch banking giant ABN AMRO acquires neobroker BUX after cost-cutting drive. The combined BUX and ABN AMRO will immediately become the leading investment platform for investors in the Netherlands and the deal is said to include “additional growth investment” to accelerate the growth of BUX.

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