Tracked deals
110
110 tracked deals across 2025.
Tracked deals
110
110 tracked deals across 2025.
Buyer mix
Strategic-led
103 strategic · 19 pe
Top trend
Volume peaked in 2025
110 tracked deals announced in 2025.
Buyer Snapshot
Illustrative buyers pulled from tracked transactions on this page. This table is capped and intentionally non-exhaustive.
| Buyer | # Deals | Focus | Type |
|---|---|---|---|
| Fiserv, Inc. | 4 | Global provider of payments and financial services techno... | Strategic |
| Lovell Minnick Partners | 3 | Growth‑oriented private equity firm specializing in finan... | PE |
| MoonPay | 3 | Provider of crypto payments infrastructure and on/offramp... | Strategic |
| Ripple | 3 | Enterprise blockchain and crypto infrastructure provider ... | Strategic |
| Airwallex | 2 | Global payments and financial platform providing business... | Strategic |
| Coinbase | 2 | Public cryptocurrency exchange and custodial platform off... | Strategic |
| GT Holding 1 GmbH | 2 | Swiss merger subsidiary used to conduct the tender offer ... | Mixed |
| Kraken | 2 | Cryptocurrency trading and custody platform building vert... | Strategic |
| Shift4 Payments, Inc. | 2 | Public integrated payments and commerce technology provid... | Strategic |
| ACI Worldwide | 1 | Global payments software company providing real-time paym... | Strategic |
Last 10 years
Supporting Data
Mollie has signed an agreement to acquire bank payments company GoCardless to create a unified European payments and bank payment platform. The combined platform will combine card payments, local payment methods, and bank payments under a single provider and is expected to be finalized in mid-2026, subject to regulatory approvals.
Nexo announced it has acquired Buenbit, a CNV-registered virtual asset service provider and one of Latin America’s fastest-growing crypto platforms. The deal combines Nexo’s crypto wealth-building product suite with Buenbit’s local compliance expertise and customer base to support Nexo’s Latin America expansion, with Buenos Aires positioned as a regional hub.
Airwallex has acquired majority ownership of PT Skye Sab Indonesia, an Indonesian PJP Category 1 licensed payments (e-money) company, strengthening its payments licences and on-the-ground presence in Indonesia. The deal expands Airwallex's Asia‑Pacific footprint and supports cross-border services for Indonesian merchants as the company scales following a $330M Series G raise.
Balance, Canada’s oldest and largest digital asset custodian, has acquired Digital Value Transfer Rails Inc. (DVTR), a Wyoming-based, multi-state licensed digital asset custodian and money transmitter. The deal, completed December 11, turns DVTR into a wholly owned subsidiary and gives Balance immediate regulatory reach across most U.S. states, adding trading, staking and money-transmission capabilities to its institutional offering.
Kraken has agreed to acquire Backed Finance AG, bringing the issuer of xStocks into Kraken’s platform to expand tokenized equities across global markets. The deal is intended to unify issuance, trading, and settlement for xStocks and accelerate scaling of compliance and institutional access to tokenized real-world assets.
Paribu, Türkiye's leading digital asset platform, has acquired CoinMENA, the largest local crypto exchange in the MENA region, in a deal valuing CoinMENA at up to USD 240 million. The acquisition gives Paribu licensed operations in Bahrain and Dubai, expands its regulated footprint into MENA, and provides access to CoinMENA's ~1.5 million users and institutional capabilities.
Element Fleet Management Corp. has signed a definitive agreement to acquire Car IQ, a San Francisco-based connected vehicle payments technology company. The acquisition will embed vehicle-initiated payments into Element’s fleet management ecosystem and expand Element’s digital payments roadmap across the United States and Canada, with closing expected in December 2025.
Paxos has acquired Fordefi, an institutional multi-party computation (MPC) wallet platform trusted by nearly 300 institutions. The deal combines Paxos' regulated blockchain and custody infrastructure with Fordefi's MPC wallet technology, enabling a unified platform for tokenization, stablecoin issuance, custody, and on-chain payments; terms were not disclosed.
Green Dot Corporation has entered into agreements where Smith Ventures will acquire and privatize Green Dot’s non-bank fintech business as an independent embedded finance company, while CommerceOne will acquire Green Dot Bank and form a publicly traded bank holding company. The transactions are structured to run concurrently, with shareholder consideration including cash and shares in the new publicly traded bank holding company expected to close in the second/third quarter of 2026 (subject to regulatory approvals and customary conditions).
Public has agreed to acquire Alto’s CryptoIRA business to expand Public’s cryptocurrency offering, enabling crypto trading within IRAs beginning in early 2026. Customers will continue using the Alto interface for now as CryptoIRA accounts migrate to Public’s platform, and Alto’s technology will be integrated into Public over subsequent months.
Reseda Group, a credit union service organization owned by MSU Federal Credit Union, has acquired Tandem, an Ann Arbor-based fintech app that helps couples manage shared finances. Tandem's founders will join Reseda Group as vice presidents as the company integrates the app into a broader family banking ecosystem aimed at Gen Z and Millennial couples and expanding into multi-generational household financial tools.
Rain has acquired Uptop, an on-chain card-linked rewards platform, integrating native loyalty capabilities into its stablecoin-powered payments and card/wallet infrastructure. Uptop will continue operating as an independent brand under Rain and the acquisition expands Rain's ability to offer branded card and wallet programs with built-in rewards across sports, retail, travel, dining, and entertainment.
Paystand, a blockchain-powered B2B payments network, has acquired Bitwage, a platform for stablecoin-enabled cross-border payouts. The acquisition embeds Bitwage’s payout engine into Paystand’s AR/AP and treasury stack to enable enterprise-grade stablecoin settlement, faster cross-border payouts, and automated on-chain reconciliation for global customers.
Corpay completed its acquisition of Alpha Group International plc in a deal valued at about $2.4 billion. Alpha provides B2B cross-border FX solutions and global bank accounts, and Corpay expects to expand Alpha’s investment-manager relationships into the US and Asia while driving accretion beginning in 2026.
Great Hill Partners has made a strategic growth investment in Ren, a leading donor-advised fund (DAF) technology and philanthropic infrastructure provider, to support product innovation, operational scale, and market expansion across financial advisors, wealth managers, and philanthropic institutions. Financial terms were not disclosed; Great Hill partners Nick Cayer, Matt Vettel, and Bob Anderson will join Ren’s board alongside existing representatives from Bain Capital, Valeas Capital, and Amy Danforth, while Bain Capital Tech Opportunities remains a significant shareholder.
Lettuce, an AI-powered financial platform for solopreneurs, raised $28 million in a funding round led by Zeev Ventures and acquired benefits-access startup Besolo. The acquisition adds healthcare benefits (health, dental, vision, life) capabilities to Lettuce’s platform as it expands its product suite for independent professionals.
ACI Worldwide has acquired Payment Components, a Greece-founded fintech provider of AI-driven financial messaging, open banking and A2A payments software, to expand the capabilities of its ACI Connetic payments platform. The acquisition — terms not disclosed and not expected to be materially financial — will integrate Payment Components' technology, IP and team to accelerate payments orchestration, messaging and AI capabilities for banks and financial institutions.
Ripple has acquired Palisade, a London-based digital asset wallet and custody technology company, to bolster Ripple Custody with wallet-as-a-service capabilities. The deal integrates Palisade's MPC-based, multi-chain wallet tech into Ripple Payments, expanding Ripple's ability to serve fintechs, corporates, and crypto-native institutions with faster wallet provisioning and high-frequency transaction support.
AscendantFX Capital has acquired Financial Transmission Network (FTNI), integrating FTNI's ETran receivables platform with Ascendant's aPay global payables solution to create an end-to-end payments offering. The deal expands Ascendant's capabilities in payables and receivables automation and positions the combined business as a more comprehensive payments technology provider.
Fireblocks, the enterprise digital-asset infrastructure provider, has acquired Dynamic, a developer platform that powers embedded wallets and on-chain accounts. The deal brings Dynamic's ~30-person team and consumer-facing wallet, onboarding, and developer tools into Fireblocks to create a unified custody-to-consumer stack for fintechs, enterprises, and payment platforms.
TrueLayer has signed an agreement to acquire Zimpler, the fastest-growing Pay by Bank network in the Nordics. The deal aims to expand TrueLayer’s pan-European reach, add coverage across key markets including Sweden and Finland, and integrate additional A2A capabilities via Sweden’s Swish payment rail.
Modern Treasury has acquired Beam, a stablecoin and fiat payment platform, to integrate stablecoin orchestration and real-time payment rails into its payment operations API. The acquisition brings Beam's technology and team (including founder Dan Mottice) into Modern Treasury to expand capabilities for instant pay-ins, payouts, FX efficiency, and enterprise treasury use cases.
mPWR, a mobile-first fintech platform, announced the acquisition of La Lenderia, S.A.P.I. de C.V. (“Kredeo”), a Mexico-based consumer lending, leasing, and payments fintech. The all-equity deal is subject to agreed conditions and is expected to close imminently, giving mPWR 100% ownership upon completion.
Bizcap, together with its U.S. affiliate NewCo Capital Group, has acquired fintech 8fig, integrating the AI-driven e‑commerce funding and planning platform into the Bizcap Group while preserving 8fig's brand and leadership. The deal strengthens Bizcap's AI underwriting and cash‑flow planning capabilities to accelerate product development and global expansion in SME non‑bank lending.
Evernorth Holdings (a newly formed Nevada corporation focused on an actively managed XRP treasury) announced it will go public through a merger with special purpose acquisition company Armada Acquisition Corp. II. The business combination is expected to raise over $1 billion in gross proceeds and position the combined company to operate under Nasdaq ticker XRPN following shareholder and regulatory approvals.
Payroc WorldAccess, LLC signed a definitive agreement to acquire BlueSnap, a Boston-based payment orchestration and accounts receivable (AR) automation platform. The acquisition combines Payroc’s direct-connect acquiring network with BlueSnap’s API-first orchestration to deliver a single-integration solution for cross-border card-not-present payments and embedded invoicing/AR automation. Payroc later announced the transaction has closed, with BlueSnap’s team and technology operating as part of Payroc effective immediately.
Riata Capital Group, a Dallas-based private equity firm, has made a strategic growth investment in Government Window, a Kennesaw, Georgia-headquartered cloud-based payments platform serving state and local governments. The investment will support Government Window's geographic expansion across the U.S. and continued product buildout of its payments software and related services.
Juniper Square has acquired Tenor Digital, an AI-enabled platform for private credit lenders and loan administrators, to integrate Tenor’s loan servicing, reporting, and reconciliation tools into Juniper Square’s fund administration and JunieAI platform. The deal expands Juniper Square’s capabilities and market reach into the fast-growing private credit sector and brings Tenor’s founding team, including CEO Tony Chung, into Juniper Square leadership.
Funds managed by Lovell Minnick Partners have made a strategic growth investment in Valor PayTech, the point-of-sale software and payment technology provider. Valor will remain led by CEO Eric Bernstein and will use the capital and LMP's operational support to scale operations, accelerate innovation, and pursue strategic investments and acquisitions.
BankCard USA Merchant Services and Preferred Payments have merged and will operate jointly as Ecrypt Inc., combining BankCard USA's merchant portfolio and sales force with Preferred Payments' payment gateway and cloud EMV technology. The combined company, based in Agoura Hills, California, will offer end-to-end payment processing, subscription billing, advanced security (including AI-driven fraud protection and tokenization), and dedicated U.S.-based account management.
Funds managed by Lovell Minnick Partners (LMP) have completed a majority acquisition of Merchant Industry, a U.S.-based fintech payments company. Founders retain a substantial minority stake and LMP appointed Vaden Landers as CEO to lead a growth and capability expansion strategy focused on distribution expansion and strategic M&A.
Valsoft Corporation has acquired CORE Cashless, a provider of cashless payment, POS, kiosk and access-control systems for the amusement and leisure industries. CORE Cashless will operate autonomously within Valsoft’s Aspire Software operating group to accelerate product development and global growth while preserving existing leadership and customer relationships.
Informativ, a Capstreet-backed provider of fraud prevention, compliance, and credit technology for the automotive industry, has acquired Carmatic, a payments-as-a-service platform that delivers real-time, transaction-ready loan and lease payments. The deal brings Carmatic's VIN-level payment engine and decisioning capabilities into Informativ's suite to accelerate transactions, reduce risk, and expand payment/product capabilities for dealers and channel partners.
Xplor Technologies signed a definitive agreement to acquire Ezypay, a provider of recurring payment solutions and subscription management, to enhance Xplor’s global payment processing platform (Xplor Pay). The acquisition is expected to close in December 2025, subject to customary conditions and regulatory approvals, and will expand Xplor’s ability to support SaaS platforms entering and operating across Asia-Pacific markets.
MoonPay has acquired Meso, a payments infrastructure startup that helps developers connect banks and card rails to crypto applications. The deal brings Meso’s engineering team and capabilities into MoonPay as the company advances its goal of building a single global payments network connecting banks, card networks, stablecoins and blockchains.
Atlanticus Holdings Corporation has acquired Mercury Financial LLC for approximately $162 million in cash (with potential earn-outs tied to future credit performance), making Mercury a wholly owned subsidiary. The deal adds 1.3 million serviced credit card accounts and $3.2 billion in receivables, expanding Atlanticus' presence in the near-prime credit card market and providing additional technology, distribution partnerships, and scale.
Solowin has completed a $350 million acquisition of AlloyX, a stablecoin infrastructure provider, integrating AlloyX's enterprise-grade stablecoin platform, RWA tokenization tools, and global payment network into Solowin's regulated financial services. The deal includes a 12-month lock-up for AlloyX selling shareholders and performance-based incentives tied to future valuation, and positions Solowin to expand stablecoin-driven payments into emerging markets including the UAE, ASEAN and Africa.
Aiwyn has acquired QuickFee's U.S. payments business, including QuickFee Pay Now and QuickFee Connect, while QuickFee's financing business remains independent. The deal expands Aiwyn's payments and payment-automation capabilities for accounting firms and brings QuickFee's U.S. customers and tools onto Aiwyn's broader platform.
Chargebee has acquired Inai, a payments intelligence and analytics company, integrating Inai's AI-driven payments observability and optimization into Chargebee's billing and monetization platform. The deal is intended to deepen Chargebee's payments capabilities—helping merchants reduce failed payments, uncover revenue leaks, and streamline payment operations across gateways and geographies.
Fiserv agreed to acquire the remaining 49.9% of AIB Merchant Services (AIBMS), its joint venture with AIB Group, to move to sole ownership. The deal supports Fiserv’s continued European growth and expanding Clover point-of-sale adoption across the region.
Fiserv, Inc. has acquired CardFree, a mobile ordering, payments, and loyalty platform, to integrate its capabilities into the Clover and Commerce Hub ecosystems. The acquisition enhances Clover's support for hospitality, restaurant and lodging merchants by adding drive-through, kiosk, sub-inventory, and third-party integration capabilities; financial terms were not disclosed.
Amazon has completed its acquisition of Axio (formerly Capital Float), a leading digital lending and checkout finance provider in India, following regulatory approval from the Reserve Bank of India. The deal will integrate Axio's lending capabilities with Amazon Pay Later to expand access to checkout financing for consumers and small businesses across India while Axio continues to operate under its current leadership.
Airwallex has acquired OpenPay, a San Francisco-based billing and subscription-management SaaS, to integrate billing, payment orchestration, and revenue analytics into Airwallex's global financial platform. The acquisition adds usage-based and multicurrency billing capabilities to Airwallex's product suite; financial terms were not disclosed.
Matica Fintec S.p.A. has acquired Panini S.p.A. from SETA Holding, combining Matica's secure payments and identity issuance capabilities with Panini's check-scanning and document digitization technology. The deal is intended to strengthen Matica's banking‑infrastructure and payments portfolio and accelerate growth — particularly in the U.S. — by leveraging complementary manufacturing and software resources.
Evertec, Inc. entered into a definitive agreement to acquire a 75% controlling stake in Tecnobank Tecnologia Bancária S.A., a fintech focused on digital vehicle financing contract registration in Brazil. The transaction is valued at R$787 million (about USD $144 million) and is expected to close in the fourth quarter of 2025, subject to customary conditions including Brazilian competition authority approval (CADE).
Fifth Third Bancorp (Fifth Third Bank) has acquired DTS Connex, a provider of cash management software for multi-location businesses, to bolster its Commercial Payments capabilities in cash logistics, infrastructure and risk management. DTS Connex will operate as a wholly owned subsidiary effective August 1, continuing as a standalone business; financial terms were not disclosed.
Western Union will acquire International Money Express (Intermex) for $16 per share in cash, valuing the deal at about $500 million. The transaction is intended to expand Western Union’s U.S. retail footprint, increase reach in Latin America, and accelerate digital customer growth, with $30 million in expected annual cost savings within 24 months.
Fundwell has acquired EveryStreet, an accounts receivable, accounts payable and flexible payments platform, bringing EveryStreet's founders and engineering team into Fundwell to expand its cash-flow and payments capabilities. The deal closed in August 2025 and will integrate EveryStreet's receivables/payments technology into Fundwell's funding marketplace to offer SMBs end-to-end cash flow management and financing.
Tether Ventures, the investment arm of Tether, has acquired a minority stake in Bit2Me and is leading a €30 million investment round to support the Spanish crypto platform's expansion. The funding and Bit2Me's new EU CASP authorization under MiCA will fuel the company's growth across the European Union and strengthen its presence in Argentina and other Latin American markets.
Ripple agreed to acquire Rail, a stablecoin-powered global payments platform, for $200 million. The deal expands Ripple’s digital asset payments infrastructure by adding Rail’s virtual accounts and automated back-office capabilities, and is expected to close in Q4 2025 subject to regulatory approvals.
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