Financial Technology Partners / FT Partners

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: money2020@ftpartners.com. 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: money2020@ftpartners.com 📊 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 Stoïk 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

⭐September European #FinTech Deal Activity Recap: $980 million in Financing Volume and $512 million in M&A Volume 👉 Quick Facts: • Financing activity picked up the pace in September with 25+ more deals announced during the month compared to August. • At the end of Q3, 2024 YTD financing volume exceeded $10 billion in total, outpacing the first three quarters of 2023, which recorded approximately $7 billion.  • The number of M&A deals announced in September, 37 transactions, increased over August’s 28 deals, and totaled more than the LTM average of 30 deals. • 2024 YTD M&A volume as of the end of Q3 totaled $27 billion, a level that already surpassed full-year 2023 ($19 billion) and 2022 ($17 billion).   💰 Deal Activity Highlights: • The top two capital raises in September also represented the largest European InsurTech financing rounds in over two years. France-based health InsurTech platform Alan raised ~$193 million in its Series F round, reaching a ~$4.5 billion valuation, an increase of more than 1.5x over its 2022 Series E valuation. Secondly, insurance pricing platform Akur8 raised $120 million in its Series C round led by One Peak Partners.           • Other notable rounds included Liechtenstein-based modular blockchain developer Celestia’s $100 million funding round led by Bain Capital Crypto and UK-based account-to-account payments platform Form3’s $60 million Series C extension, in which it reached a $570 million valuation. • The Financial Management Solutions sector was one of the most active FinTech sectors in September, led by investment activity in RegTech and ESG spaces specifically. The largest capital raises included Novatus Global’s $40 million growth financing, Datamaran’s $33 million Series C financing and Atlas Metrics’ $14 million Series A financing. • Notable M&A deals during the month included Visa’s acquisition of UK-based fraud prevention platform Featurespace, rumored to be worth ~$925 million, Cinven’s acquisition of a 50% stake in UK-based home and auto insurance MGA Policy Expert, and Apax Partners-backed Zellis’ acquisition of Swedish benefits platform Benify from Virtruvian Partners for an enterprise value of approximately $441 million. 📊 View or download the monthly infographic below or here: https://lnkd.in/e-7tMpUb Alan, AKUR8, Celestia Labs, Form3, Novatus Global, Datamaran, Atlas Metrics, Featurespace, Visa, Policy Expert, Cinven, Zellis, Benify #EuropeanFinTech #EUFinTech

This week in #FinTech deal activity: 66 financings and 19 M&A transactions. Slight uptick in financing activity compared to last week, with 20 more deals announced and four $50 million+ capital raises. The largest financing this week, SMB financial management platform Asaas’s ~$150 million Series C round, stands out as the largest Brazilian FinTech financing deal so far this year, as investments in the country have picked up, with 2024 YTD levels already surpassing full-year 2023. 👉 Reminder, FT Partners will have a team at both ITC and Money20/20 in Las Vegas this month. Let us know if you would like to meet up during the conferences! Please reach out here for ITC: ITC@ftpartners.com and here for Money20/20: money2020@ftpartners.com  📊 View or download the weekly infographic below or here: https://lnkd.in/eagjt_xc  💰 Largest / Notable Deals This Week: • Brazil-based billing / AR automation company ASAAS raises ~$150 million in Series C financing led by BOND • Live event payments and software provider atVenu secures $130 million equity investment from Sixth Street Growth • Co-branded credit card issuer Imprint raises $75 million in Series C financing led by Khosla Ventures bringing the Company’s valuation to $600 million • WealthTech platform Farther raises $72 million in Series C financing led by CapitalG and Viewpoint bringing the Company’s valuation to $542 million • Southeast Asian consumer lending platform Salmon Group Ltd raises $30 million in Series A2 financing from IFC - International Finance Corporation, Lunate and others • Pockit acquires fellow UK-based challenger bank Monese after strategic investor HSBC recently wrote off its remaining stake in the Company. Monese had previously raised more than $200 million in financing. Numeric, Logik.io, Pinpoint Predictive, Noetica AI, estie, inc., Younited, Solifi, TA Associates, Duck Creek Technologies, Marex, Hamilton Court Foreign Exchange, Waave, Banked :, Parsly, Buyers Edge Platform

This week in FinTech deal activity: 38 financings and 29 M&A transactions. Highlights include the largest #FinTech Series F raise in the last two years for money transfer company Zepz, and the largest #InsurTech M&A deal so far this year with an announced transaction value, GTCR and Recognize’s $600 million+ acquisition of TRANZACT. 👉 Reminder, FT Partners will have a team at both ITC and Money20/20 in Las Vegas later this month. Let us know if you would like to meet up during the conferences! Please reach out here for ITC: ITC@ftpartners.com and here for Money20/20: money2020@ftpartners.com 📊 View or download the Weekly infographic below or here: https://lnkd.in/e5vYnMCF 💰 Largest / Notable Deals This Week: • International money transfer company Zepz raises $267 million in Series F financing led by Accel • European open banking payments network TrueLayer raises $50 million Series E extension financing led by Northzone • Medical coding automation company Nym raises $47 million in growth financing led by PSG • Canadian challenger bank KOHO raises ~$30 million in new equity funding led by PROPELR Growth • Private equity firms GTCR LLC and RECOGNIZE acquire direct-to-consumer insurance solutions provider TRANZACT from WTW in a deal valuing the Company at $632 million BMLL, Rogo, Atlas Metrics, BASIC Home Loan, Rezilient Health, Barte, FX HedgePool, Minna Technologies, Mastercard, Euronext, Acupay System LLC, Pennylane, Stax Payments

This week in FinTech deal activity: 51 financings and 21 M&A transactions. With the end of Q3 nearing, private company FinTech financing volume is set to reach more than $13.5 billion for the quarter. This compares to $11.0 billion in Q3 2023 representing a year-over-year increase of 22%. 2024 YTD financing volume now totals $37 billion compared to $40 billion in the first three quarters of 2023, though 2023 volume included Stripe’s $6.9 billion Series I raise. 👉 Reminder, FT Partners will have a team at Money20/20 in Las Vegas next month. Let us know if you would like to meet up during the conference by reaching out here: money2020@ftpartners.com View or download the Weekly infographic below or here: https://lnkd.in/eqEvh2VZ ⭐Largest / Notable Deals This Week: • Medicare InsurTech company focused on underserved populations Zing Health raises $140 million in funding • India-based embedded FinTech company M2P Fintech raises approximately $102 million in a primary and secondary funding round led by Helios Investment Partners • Modular blockchain network Celestia Labs raises $100 million in financing led by Bain Capital Crypto • Health InsurTech company providing self-funded health plans for employers Centivo, raises $75 mm in equity and debt financing • Australia-based home loan platform Athena Home Loans secures A$62 million (approximately $42.5 million) from REA Group • Visa acquires fraud & financial crime prevention platform Featurespace building on Visa’s fraud detection solutions following its prior acquisitions of Verifi and CardinalCommerce (advised by FT Partners, more details here: https://lnkd.in/epJuNrrs) #FinTech InDebted, Apron, K1X, Inc. , Wrapbook, GeoX Innovations, Digiasia, PayMate, eToro, NetGuardians, Summa Equity, OptionTrax, Empower, Nuvei

Go Greg!

See all of this week’s #FinTech deal activity: 87 Financing and 25 M&A transactions View or download below or here: https://lnkd.in/ePxgrnys

European #FinTech financing volume totaled $400 million across 45 deals in August, representing a drop in activity from July, but a 2x increase in volume compared to August 2023 - see more details in FT Partners' infographic View or download below or here: https://lnkd.in/eXw249_a