Fintech
Top 5 FinTech Acquisitions Announced in Europe in May 2024
By Gloria Methri
Today
- Resource management
- Chetwood Financial
- CHL mortgages
The FinTech sector has seen a slowdown in deal activity in 2023, with companies around the world adopting a cautious approach to mergers and acquisitions (M&A). Only 128 M&A deals were recorded in the first half of the year, compared to 248 and 188 in the first and second halves of 2022.
Despite the contraction, companies remain interested in exploring options and look forward to potential deals when market conditions improve. According to S&P Global Market Intelligence, several FinTech segments, including payments, treasury management software and business separations, are attracting merger and acquisition (M&A) interest.
Let’s take a look at five such announcements made this month:
British digital bank Chetwood Financial has acquired the buy-to-let mortgage lender CHL mortgages for Intermediaries (CMI) from Barossa Asset Purchaser Sarl. Chetwood has launched a tender process to acquire the lender, trading as CHL Mortgages, to grow a well-regarded business and access its experienced mortgage lending team.
Throughout the process, Chetwood, CMI and Barossa have been focused on ensuring a seamless transition between owners. The move will allow Chetwood to broaden its mortgage portfolio and expand its reach into the mortgage broker market.
Gallant Capital Partners has acquired the payments testing business of Fime and UL Solutions, combining the technical capabilities and experience of both companies under the Fime brand.
Payments, smart mobility and digital identity stakeholders can now access a comprehensive set of consultancy and testing services through Fime, whilst saving time and costs.
The combination significantly expands Fime’s geographic reach, offering global expertise on a local scale. Interested parties can access business and technical consultancy, as well as compliance testing and quality assurance services in over 19 countries.
CUBE, a specialist in Automated Regulatory Intelligence (ARI) and Regulatory Change Management (RCM), has announced the acquisition of Thomson Reuters Regulatory Intelligence and Oden products and activities.
The acquisition expands CUBE’s existing global customer base to approximately 1,000 customers across banking, insurance, wealth and investment management, payments and adjacent regulated industries.
CUBE is now able to provide an expanded and comprehensive selection of specialized regulatory intelligence and regulatory change services.
HPS, a global provider of software and payment solutions, has agreed to acquire CR2a digital banking and payments software company in Ireland.
CR2, with offices in Dublin, Dubai, Jordan, India and Australia, is known for its innovative digital banking and payment solutions. Through its flagship platform, BankWorld, the company powers more than 90 banks in more than 50 countries.
CR2 is expected to materially contribute to HPS’s financial performance by providing new potential revenue opportunities in complementary markets.
FE fundinfo, a financial data company that connects the wealth management industry to distribution networks in the UK, Europe and the Asia-Pacific region, has announced the acquisition of Dericona FinTech pioneer in the wealth management sector in Germany.
The partnership will allow FE fundinfo clients to have direct access to one of the largest distribution channels for asset managers in Germany, while expanding the company’s capabilities in the region.
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