M&A

Goldman Sachs and Atlanta based fintech company GreenSky (GSKY) have announced a merger in which the bulge bracket investment bank plans to acquire GreenSky in an all-stock transaction valued at approximately $2.24 billion. According to the merger agreement, GreenSky shareholders will receive 0.03 shares of Goldman Sachs shares for each share of GreenSky, which works out to about $12.11 a share, according to a statement issued on Wednesday.

The acquisition will enhance Goldman Sachs’ ability to provide consumers with the opportunity to save, spend, borrow and invest, and meet customers where they transact.

Founded in 2006 by David Zalik, GreenSky is a fintech platform that enables over 10,000 merchants to offer payment and loan services for four million customers.

Mumbai based payment-tech firm PayU Finance India, owned by global consumer internet giant Prosus, has announced the acquisition of payment gateway BillDesk for US$4.7 billion, making PayU one of the leading online payment providers globally by total payment volume.

Together, PayU India and BillDesk will be able to meet the changing payments needs of digital consumers, merchants and government enterprises in India and offer a unified state-of-the-art payment technology platform. The acquisition is subject to approval from the Competition Commission of India.

Founded in 2000 by Ajay Kaushal, Karthik Ganapathy and Srinivasu, Ahmedabad based BillDesk provides an integrated payment technology platform and unified APIs to make digital payments easy and accessible.

Montréal based fintech startup Flinks has received a strategic investment of $103 million from National Bank of Canada. The investment includes $30 million in growth capital which would enable the fintech to expand it geographic footprint in North America, enter financial services verticals like wealth and lending, and add to its capabilities in analytics and data enrichment. 

Founded in 2016 by Frédérick Lavoie, Julien Cousineau and Yves-Gabriel Leboeuf, Flinks is a data company that enables businesses to connect to their customers’ financial accounts, enrich this data, and utilize it to deliver better digital products.

Palo Alto based Bill.com has signed a definitive agreement to acquire Invoice2go, the SMB focused accounts receivable (AR) software provider, in a stock and cash transaction valued at ~$625 million. Invoice2go’s cutting edge AR product coupled with a talented workforce and international customer base, are expected to enhance Bill.com’s current AR solution, provide synergies with its payments solution, and position it as an integrated financial solutions platform for businesses around the globe.

Founded in 2006 by René Lacerte, Bill.com (NYSE:BILL) is a provider of cloud-based software that simplifies and automates back-office financial operations.

Australian fintech Zip Co announced that it is in the process of acquiring buy-now-pay-later (BNPL) companies Prague based Twisto and UAE based Spotii via its subsidiary Zip UK for a total consideration of $160 million as it looks to expand its geographic footprint in Europe and the Midle East. Zip is purchasing the remaining 89.94% shares in Twisto for $140m and the remaining shares in Spotii for around $20m. Zip Co had earlier acquired Australia based Pocketbook, New Zealand based PartPay, and the US based Quadpay.

Founded in 2013 by Larry Diamond, Niamh Mc Enaney, Peter Gray, Sydney headquartered Zip Co is a publicly listed online payments technology company that offers consumers credit options for online shopping.

Atlanta based PaymentTech REPAY Holdings has acquired Arizona based payments provider BillingTree in a cash and stock transaction valued at approximately $503 million. The acquisition will be financed with approximately $275 million in cash from REPAY’s balance sheet and $228 million in newly issued shares of REPAY class A common stock to be issued to the seller.

The acquisition will enable REPAY to expand its footprint in healthcare, credit unions, and accounts receivable management.

BillingTree is a provider of omni-channel, integrated payments solutions to the Healthcare, Credit Union, Accounts Receivable Management and Energy industries.

The deal will spur PayPal’s cryptocurrency team on the curve, a startup working with exchanges, brokers and over-the-counter desks to help its users securely store crypto assets and without the need for additional hardware Helps to reach their purse.

The large company already supports the buying and selling of cryptocurrencies, and it says it plans to launch new crypto-related products in other countries and in Venmo. Calcalist was the first to report the acquisition, and stated that the deal price was between $ 200 and $ 300 million, while another source tells ClearTips that the price was less than $ 200 million.