United FinTech Acquires AI-Powered Lending Platform Trade Ledger
Connecting the Dots in FinTech - Funding & M&A
Connecting the dots in FinTech...
WEEKLY FUNDRAISING ACTIVITY
- Over the last week, there were seven FinTech deals in Europe, raising a total of €72 million, including two transactions in the UK, one in France, one in Sweden, one in Italy, one in Switzerland, and one in Denmark.
👀 NEWS HIGHLIGHT
While Trade Ledger will be incorporated into United FinTech’s commercial banking division, the company will maintain its existing leadership structure and brand identity.
🤝 M&As
ACI Worldwide acquires European FinTech Payment Components. ACI will integrate Payment Components technology into ACI Connetic, accelerating the roadmap of the industry’s only cloud-native unified payments platform that seamlessly integrates account-to-account (A2A) payments, card processing, and AI-powered fraud prevention within a single, modular cloud-native architecture.
ISH acquires ProSpend to boost global FinTech & UK presence. ISH was selected by ProSpend for its experience in supporting founder-run SaaS businesses and a demonstrated record in spend management. Both companies stated that their shared focus is to remain attentive to customer requirements.
Ripple acquires crypto wallet and custody firm Palisade. The acquisition is expected to increase the firm’s custody capacity, allowing Ripple to better serve crypto-native firms, financial technology companies, and other corporations. Its prime clients are gaining access to dozens of cryptocurrencies in the US.
Nexi says it no longer commits to buy the Sabadell unit. Sabadell had postponed the completion of the sale after becoming the target of a hostile takeover by BBVA. Nexi is still interested in doing something with Sabadell, but on “completely new terms,” CEO Paolo Bertoluzzo said.
SIX announced its support for Worldline’s transformation plans and related proposals at the upcoming extraordinary general meeting. It has, however, decided not to participate in Worldline’s announced capital increase and will accept the corresponding dilution compared to the current 10.5%.
NOW, ON TO THE SUMMARY OF LAST WEEK’S NEWS
🎉 NOTABLE FUNDING ROUNDS
⭐️ SavvyMoney raises $225M to accelerate innovation for financial institutions. The investment will accelerate SavvyMoney’s product roadmap and go-to-market investments, enabling the company better to serve its core community of over 1,500 financial institutions.
⭐️ BNPL startup Snapmint raises $125 Mn led by General Atlantic. The proceeds will be used to expand its EMI-on-UPI offering and grow its merchant network. According to the company, the round will provide an exit to some of its early angel investors.
⭐️ Banca Sella acquires 100% of Hype for €85 million. The transaction is part of the shareholders’ agreements governing the joint venture between Sella and Illimity and requires a valuation by a third-party expert, as indicated in the agreements themselves.
⭐️ US FinTech Lettuce Financial raises $28m in Zeev Ventures-led round. The company’s latest cash injection will fund its platform expansion initiatives, focusing on retirement planning with Solo 401(k) and SEP IRA guidance. New features include multiple plan choices, real-time insights on tax implications and transaction classifications, and benefit comparisons.
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🌎 REGIONAL HIGHLIGHTS
UK 🇬🇧
Keyless to be acquired by Ping Identity to drive global adoption of privacy-preserving biometric authentication. Keyless’ acquisition will equip customers, employees, and citizens globally with biometric multi-factor authentication that never stores their biometric data.
EUROPE 🇪🇺
Germany’s Atrya raises €1.5M to build Europe’s first fully compliant stablecoin payment network. Germany’s Atrya raises €1.52M to build a blockchain-based payment system using e-money tokens for global transactions. Keep reading
Kabilio raises €4M to streamline accountant–client collaboration via AI. The new funding will enable the company to strengthen its team, develop additional features and products, and accelerate its expansion in the Spanish market. Kabilio’s platform streamlines information exchange between firms and clients and automates processing, generating complete entries that integrate with accounting software.
Worldline plans €500 million capital raise in turnaround bid. Chief Executive Officer Pierre-Antoine Vacheron said that the transaction is to accompany its strategic transformation while strengthening Worldline’s financial structure at this pivotal moment.
USA 🇺🇸
AppTech announces the strategic acquisition of Infinitus Pay, a strategic addition that strengthens AppTech’s Banking-as-a-Service (BaaS) platform and supports its focus on scalable revenue growth. Continue reading
FinTech DealMaker raises $20 million to scale retail capital raising. DealMaker’s founders say the new funding will help accelerate the development of its AI capabilities. The company’s roadmap includes continued expansion in the U.S. and ongoing efforts to make community investing feel more seamless, from discovery to transaction.
LATAM
Colombian FinTech DRUO raises undisclosed seed round. DRUO provides a B2B payment infrastructure that enables companies to send and receive funds directly from bank accounts. The platform supports instant transactions for payroll, subscriptions, and supplier payments across international accounts.
ASIA
AtoB to acquire India’s LogiPe in global fleet FinTech expansion. The move aims to strengthen AtoB’s worldwide capabilities in delivering next-generation financial services for fleet owners and operators. Keep reading
Stablecoin-enabled payments infrastructure platform Zynk raises $5 million from Coinbase Ventures and others. Zynk said it will use the fresh funding to expand its payment corridors, enhance its liquidity and compliance infrastructure, and develop partnerships with major payment providers.
Kakao Pay joins $20m series A in Malaysian FinTech firm Paywatch. Paywatch plans to use the new capital to expand its platform with additional products such as cross-border payments, insurance, and employee rewards. This brings Paywatch’s total funding to over US$50 million, factoring in earlier equity and credit facilities.
MIDDLE EAST
Stream secures $4 million seed funding to transform B2B payments in MENA. With this round, Stream will fuel its product development in engineering, compliance, payment capabilities, and the overall user experience while strengthening its internal systems to support a rapidly growing subscriber base.