FinTech news in M&A category

Power’s first product is a credit card issuance program, which is designed for companies, brands and banks to offer embeddable fintech experiences, such as customized credit card programs, targeted promotions and personalized rewards, into existing mobile and web applications. Historically, Marqeta was focused on debit and prepaid cards, but in February 2021, it formally expanded into the consumer credit card space to help other brands launch credit card programs. Once the deal closes, Power Finance CEO Randy Fernando will lead the product management of Marqeta’s credit card platform. Marqeta has agreed to acquire two-year-old fintech infrastructure startup Power Finance for $223 million in cash, marking the first acquisition in the publicly-traded company 13-year history.

Remote payroll startup Deel has acquired fintech Capbase for an undisclosed amount in a cash and stock deal, the companies have told journalist exclusively. With its acquisition of Capbase, Deel plans to pair those services with a new product dedicated to equity management and issuance. It was drawn to the fact that Capbase works to help companies with incorporation and fundraising in their early days as well as with compliance filings and granting equity as they mature, according to Bouaziz. Services it offers include helping companies send offer letters, grant equity to new employees, manage their cap tables and get a 409A valuation report, among other things.

eToro has signed a definitive agreement to acquire Gatsby — a fintech startup which also aimed to go head to head against Robinhood — for $50 million in a cash and common stock deal.

Weekly news about Paystand, Alloy, Payday, QED Investors, Metromile, Lemonade, Wiseasy, Attentive, Robinhood, Opendoor, Savana, Lami, Bluecopa, Geopagos, Mudafy, Parafin, FinanZero, PayIt, NG.CASH, Legalpad, Weltio and others.

In January 2020, HomeLight launched its flagship financial products, HomeLight Trade-In and HomeLight Cash Offer. As for the decision to acquire Accept, Uher said it was based in part on the fact that more companies have recently popped up in the proptech space with the goal to help homebuyers and sellers with various aspects of the buying and selling process and that HomeLight wanted to be even more competitive.

At the Permissionless conference in West Palm Beach this week, conversations around crypto M&A were heating up as market players discussed this trend growing at the protocol level for DeFi.

Truist — one of the nation largest financial institutions — has acquired Long Game, a 12-person fintech startup that has raised over $20 million in venture capital, executives told journalist exclusively.

OpenSea, the largest NFT marketplace, acquired NFT aggregator Gem.xyz (Gem) to “better serve” its more experienced users, the company said in a blog post. The deal, which comes a few months after OpenSea bought DeFi wallet startup Dharma Labs, will allow OpenSea to “learn from Gem’s expertise and intuition about the advanced NFT community,” the \[…\]