What is Fintech? (5th part)

Large Exits In 2019

With the increase in funding for fintech companies in 2019, liquidity remains a concern. 2020 kicked off with two large acquisitions subject to regulatory approval. Visa announced the acquisition of Plaid for $5.3 billion, and Intuit plans to acquire Credit Karma for $7.1 billion. These two deals in early 2020 already surmount 2019 acquisitions, in which 177 fintech companies were acquired for a total of $6.1 billion.

  • iPipeline, a provider of sales distribution software to insurance and financial services companies, was acquired by Roper Technologies for $1.6 billion.
  • Kony, a mobile application developer for fintech companies, was acquired by Temenos for $559 million.
  • PrecisionLender, which provides information for banks to accurately price a loan to a borrower, was acquired by Q2eBanking for $510 million.
  • Ebury, which allows small and mid-size companies to make and receive payments in foreign currencies, was acquired by Banco Santander for $451 million.
  • Wave, which enables payments and payroll for small businesses, was acquired by H&R Block for $404 million.

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