The purchase price paid by French startup Qonto for fintech Penta has not been officially disclosed. However, the financial portals Finance Forward, and Finanz-Szene has researched that the purchase price is said to have been around 200 million euros. The media refer thereby to documents from the French trade register.
Israeli online investment platform eToro is set to complete its acquisition of fintech startup Gatsby, following approval from the U.S. Financial Industry Regulatory Authority (FINRA). This was reported by the tech news portal TechCrunch. According to the report, the deal is worth $50 million in cash and common stock.
Nasdaq-listed Remitly Global Inc. has signed a definitive agreement to acquire Rewire, an Israel-based remittance platform for migrant workers, for $80 million in cash and stock. The transaction is expected to close in the second half of 2022, subject to approval by Israeli and Dutch authorities. Rewire was founded in 2015 with offices in Tel Aviv and Amsterdam and said it is "geographically complementary" to Remitly.
Financial insurance platform Qenta (website) has acquired digital currency company Noble Money, Inc. for an undisclosed amount, the FinTech said in a press release. Noble Money is working to scale digital currencies, starting with government adoption. The company is backed by investors that include 8 VC, Tribe Capital, Social Capital, and Green Sands Equity, all of which will join Qenta's investor group.
More than four years after the acquisition of the peer-to-peer lending platform operator Lendico (website), ING is now fully integrating the fintech into its own business. In doing so, the Dutch want to expand business banking as a third pillar.
Umba, a U.S.-based digital bank focused on emerging markets, has acquired a majority stake in Daraja, a Kenyan deposit-taking microfinance bank, for an undisclosed amount. Kenya's monetary authority, the Central Bank of Kenya (CBK), said Umba had acquired a 66.6% stake, which is expected to accelerate Daraja's digitization.
PayNews42 reported the rumors a few days ago. Friday morning, the two companies announced the transaction in blog posts. The Paris-based fintech Qonto acquired its German competitor Penta. The transaction is expected to be finalized in the coming weeks.
The Berlin-based neobank Penta is about to be sold to its highly-funded French competitor Qonto. According to several people familiar with the matter, the deal has already been negotiated and could be announced soon. The purchase price is in the mid-three-digit million range. However, whether the deal will be settled in cash or shares is unclear.
The German Ruhr Group plans to offer its customers new financing models. The automotive body and plant builder Thyssen-Krupp Automotive Body Solutions wants to give its customers better access to usage-based financing models for new equipment. To this end, the company is taking a minority stake in fintech start-up Cap-on, whose investors include Süddeutsche Leasing (SDL).
