Many analysts predicted the latter half of 2020 would be flush
with M&A deals. As the economic effects of the pandemic begin
to take their toll, some fintechs are more open to exiting earlier
than they had planned.
Additionally, volatile stock market conditions are making IPOs
less appealing. This may be what swayed Kabbage,
which had long-been rumored to IPO after becoming an early fintech
unicorn, to agree to be acquired by American Express.
These factors have made August, which is typically a very sleepy
month for fintech news, into a busy time for M&A activity.
Here’s an aggregation of some of the top deals this month.
- Metro Bank to
buy Ratesetter for up to $16 million
- Paya and FinTech III
agree to merge under the name Paya
- Euronext completes the
acquisition of VP Securities
- Intercontinental Exchange agrees to
acquire Ellie Mae for $11 billion
- American Express to
- Tandem Bank acquires
acquires invoice financing company waddle for $80 million
- FTX acquires
Blockfolio for $150 million
- WorldRemit to
acquire Sendwave for $500 million
- Railsbank to buy
Wirecard’s U.K. division
purchases U.K.-based Know Your Money