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Weekly News Highlights – 3 February 2022

Stay up to date with the latest news from fintech! This week, we bring you updates and developments on partnerships, banking, IPO, stock and more. Enjoy reading!

Banking Circle acquires BNPL startup Biller (The PayPers)
Banking Circle has acquired Biller, a Buy Now, Pay Later (BNPL) startup for B2B payments. Biller will become part of Banking Circle Group’s ecosystem and will benefit from immediate access to technology infrastructure, financial resources, and the necessary licences to accelerate their European expansion. Biller will leverage Banking Circle’s global network of more than 200 PSPs and marketplaces. First customer introductions have already been made. Read more.

Fintech Amount buys Linear for $175M (Banking Dive)
Chicago-based banking technology provider Amount has purchased Linear Financial Technologies for $175 million in cash and stock, according to a Tuesday news release. Reston, Virginia-based Linear is a small and midsize business loan and account origination platform. Linear will be rebranded as Amount Small Business, which Linear’s CEO, Sam Graziano, will head up once the deal is complete. The combined business will be led by Amount CEO Adam Hughes. Read more.

FTX to Buy Liquid in Push to Reach Japanese Traders (Bloomberg)
FTX Trading Ltd. is set to acquire fintech Liquid Group in a push to increase its presence in Japan. The acquisition will allow FTX to enter the Japanese market with a regulatory stamp-of-approval because a key subsidiary of Liquid, Quoine Corp., was among the first cryptocurrency exchanges to register with Japan’s Financial Services Agency in 2017. Quoine was approved to offer derivatives trading, an integral service for FTX. Read more.

PayPal Stock Had Its Worst Day on Record. What Wall Street Is Saying. (Barron’s)
PayPal stock was in free-fall as investors—and Wall Street—reassessed the payments company after it issued a particularly disappointing outlook for 2022. PayPal (ticker: PYPL) reported a fourth-quarter profit of $1.11 a share Tuesday, narrowly missing forecasts of $1.12 a share. Sales of $6.92 billion topped estimates for $6.89 billion. Read more.

UK FinTech Trust Payments Acquires WonderLane (PYMNTS)
U.K. FinTech Trust Payments has acquired retail technology firm WonderLane, the company announced in  a news release Monday (Jan. 31). “The move enables Trust Payments to provide innovative retail operations technology solutions to any shop with its electronic point of sale (ePOS) offering, enabling truly omnichannel commerce and payments solutions — all of which supports the growing trend for self-checkouts and wireless contact payments on-the-move,” Trust said. Read more.

Setback for London as UK fintech specialist Zepz eyes US IPO (PitchBook)
Money transfer specialist Zepz is planning to go public at a $6 billion valuation in the US instead of listing in its native UK, Bloomberg reported.
The move will be a disappointment for UK policymakers who have been trying to entice more UK-based tech startups to list in London.
UK Prime Minister Boris Johnson was to reportedly meet with executives from companies such as Checkout.comOakNorth and PensionBee on Monday. However, he pulled out of the meeting in order to give a statement on his government’s recent lockdown parties scandal. Read more.

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