Cover story: THE WORLD BEYOND – Connecting through the metaverse.
Welcome to the summer edition of the Banking Technology Magazine, packed with fintech and banking tech goodness!
The fintech consolidation continues, with a host of M&A activity reported over the last month.
Equipped with funding money, lots of fintechs have gone on shopping sprees.
UK-based Paddle, which provides payments infrastructure for software companies, has acquired ProfitWell, a provider of subscription metrics and retention software, for $200 million in cash and equity. Just last month, Paddle has secured a $200 million Series D round, valuing the company at up to $1.4 billion.
Another UK payments solutions provider, Checkout.com, is acquiring French ID verification start-up ubble for an undisclosed sum. In January this year, Checkout.com raised a mammoth $1 billion in a Series D funding round that took the company’s valuation up to $40 billion.
Yapily, a UK-based open banking infrastructure provider, is set to take over finAPI, a fellow open banking solutions provider in Germany. Last year, Yapily raised $51 million in a Series B funding round.
Dutch challenger Bunq has become the second largest neobank in the European Union with the acquisition of Tricount, a Belgian group expense management app, which will see the bank take on an extra 5.4 million users. Last summer, Bunq raised $228 million in a Series A funding round, valuing it at $1.9 billion.
In Singapore, MatchMove, a provider of embedded finance services powered by APIs, has acquired e-commerce start-up Shopmatic for $200 million. Also based in Singapore, Shopmatic offers SMEs an online presence including webstore, chat, social media and marketplace functionalities. Last year, global tech firm Nityo Infotech invested $100 million in MatchMove in return for an equity stake.
Head over to the FinTech Futures’ M&A online news section for plenty more M&A stories from across the globe!
There’s lots more on the pages of this edition, including the top news, punchy opinions, food for thought, and expert analysis. We hope you find it interesting, informative and useful.
CLICK HERE TO READ THE FULL EDITION OF THE BANKING TECHNOLOGY MAGAZINE JUNE 2022