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Deals

Kazakhstan’s Kaspi valued at $6.5 billion in London IPO

October 19 2020

> Reuters

“Banking and fintech firm Kaspi.kz’s KSPI.KZ initial public offering on the London Stock Exchange will be priced between $28.50 and $33.75, giving it an implied market capitalisation of about $6.5 billion, a bookrunner said on Thursday. Last month, the company, which controls the third-largest bank in Kazakhstan and operates a payments and ecommerce business, announced […]

Deals

Regional lender First Citizens to buy CIT in $2.2 billion deal

October 19 2020

> Reuters

“First Citizens BancShares Inc FCNCA.O said on Friday it would buy peer CIT Group Inc CIT.N in a deal valued at $2.2 billion, creating a bigger regional player in the United States at a time when banks are grappling with low interest rates…The deal, which is expected to close in the first half of 2021, […]

Deals

Payments services provider Billtrust to go public via merger with blank-check firm

October 19 2020

> Reuters

“Payments services provider Billtrust said on Monday it will go public through a merger with blank-check firm South Mountain Merger Corp SMMC.O in a deal valued at $1.3 billion, including debt. Billtrust, which provides payment services for transactions between businesses, said the combined firm will list on the Nasdaq Stock Market and have a cash […]

Deals

Global Processing Services Continues International Growth with Visa Investment

October 19 2020

“Leading payments issuer processor, Global Processing Services (GPS) has secured a strategic investment from strategic partner, Visa Inc., the world’s leader in digital payments. Backed by UK growth private equity firm, Dunedin, this strategic investment will accelerate GPS’ global expansion, following its success in launching new and innovative fintechs and digital banks in Europe and […]

Deals

Nabis raises $5m Series A to grow its cannabis distribution platform

October 16 2020

> TechCrunch

“Nabis is a business to business distributor, handling logistics, payment, and warehousing. Instead of being a distributor for beer, snacks, or pet supplies, Nabis is a cannabis distributor. The company acts as a middleman between cultivators and retail establishments, providing both parties unique services. Since it’s illegal to ship cannabis through traditional means, most cannabis […]

Deals

Argyle Raises $20M Series A Led By Bain Capital Ventures

October 15 2020

“Today, most workers do not have open access to their own employment records; there are no national standards on how these records are stored or organized. Opportunities, products, and services are inaccessible because consumers are unable to validate employment information.Argyle is building an access gateway into employment records to change this flawed status quo. Our […]

Deals

Finexio Raises $23 Million Following Three Years of Triple-Digit Revenue Growth as Unique AP Payments as a Service Platform

October 15 2020

“Finexio, a rapidly growing AP payments as a service platform, today announces the closing of a $23 million capital raise, led with a strategic investment from Medalist Partners, an alternative credit manager based in New York. This growth investment supports Finexio’s drive to simplify, optimize, and monetize the last mile of the corporate accounts payable process through […]

Deals

Spendesk raises another $18 million for its corporate card and expense service

October 14 2020

> TechCrunch

“Spendesk, as the name suggests, focuses on all things related to spend management. The company issues virtual and physical cards for employees, lets you set up an approval workflow and manages expense reimbursements. It can also centralize all your invoices and receipts on the platform. By centralizing everything on the same platform, it lets you […]

Deals

Nym Health raises $16.5 million for its auditable machine learning tools for automating hospital billing

October 14 2020

> TechCrunch

“A little less than two years after raising its seed round, the Israeli-based Nym Health has added another $16.5 million to its cash haul so it can roll out its technology developing auditable machine learning tools for automating hospital billing…Billing has been a huge problem for healthcare systems in the U.S., thanks to complicated coding […]

Deals

India’s Razorpay Becomes Unicorn After New $100 Million Funding Round

October 12 2020

> TechCrunch

“Bangalore-headquartered Razorpay, one of the handful of Indian fintech startups that has demonstrated accelerated growth in recent years, has joined the coveted unicorn club after raising $100 million in a new financing round, the payments processing startup said on Monday… Razorpay accepts, processes, and disburses money online for small businesses and enterprises. In recent years, […]

Deals

Mastercard and Marqeta Expand Strategic Global Partnership

October 8 2020

“Marqeta, the global modern card issuing platform, and Mastercard today announced an extended global partnership to expand into new geographies, open access to new products, and launch additional card programs together. As part of this partnership, Mastercard has also made a financial investment in Marqeta.”

Deals

Chargebee Raises $55 Million to Help Businesses Move to Subscriptions

October 7 2020

> TechCrunch

“Chargebee allows individuals, small businesses and enterprises to automate subscriptions, billing, invoicing, payments and revenue recognition processes. It supports dozens of popular payment gateways, including Stripe, Braintree, WorldPay and PayPal, and its global tax management coverage also helps businesses to expand to new markets. MakeSpace, an on-demand storage company, used Chargebee’s services to scale from […]

Deals

Nexi is Said to Pursue Nets in New Blockbuster Payments Play

October 7 2020

> Bloomberg (paywall)

“Nexi SpA is already hunting for its next target after agreeing a milestone payments merger with Italian rival SIA SpA , as consolidation in the sector shows little sign of easing. Milan-based Nexi made a non-binding bid for Denmark’s Nets A/S , people familiar with the matter said, asking not to be identified because the […]

Deals

P27 Nordic Payments Platform to Acquire Swedish Company Bankgirot

October 6 2020

“P27 Nordic Payments Platform has on 6 October 2020 signed an agreement to acquire Bankgirocentralen BGC AB (Bankgirot), Sweden’s only clearing house for mass payments. Bankgirot has a central role in the Swedish payment system and handles transactions of a total value of approximately SEK 73 billion per day, including through its real-time payment service […]

Deals

Nivelo Nabs $2.5M Seed to Reduce Risk in Digital ACH Payments

October 6 2020

> TechCrunch

“As we plunge deeper into the pandemic, online transactions have become increasingly important, and ACH transactions, the ones that help us get direct deposit of our paychecks or pay our bills, are growing ever more essential. Nivelo , an early-stage startup from a former JP Morgan executive, wants to take the risk out of ACH […]

Deals

NEC to Buy Swiss Fintech Avaloq for $2.2bn

October 5 2020

> Nikkei Asia

“Japanese electronics giant NEC will purchase Swiss banking software developer Avaloq for 2.05 billion Swiss francs ($2.2 billion), the company said on Monday…Avaloq provides banking software mostly to private institutions and has a customer base in 30 countries. The company is known for its platform-based software as a service, or SaaS, and business process as […]

Deals

BlackLine Acquires Rimilia to Add AI-Powered Accounts Receivable Automation To Modern Accounting Platform

October 5 2020

“BlackLine, Inc. (Nasdaq: BL ), a leader in accounting automation software, announced today that it has completed the acquisition of Rimilia , an AI-powered cloud-based platform that enables accounts receivable (AR) automation and digital transformation.  With Rimilia, BlackLine strengthens its position with the Office of the Controller by driving end-to-end automation of the cash lifecycle and ensuring greater data integrity.”