10 FinTech Mergers and Acquisitions in Europe in 2022

By Gloria Methri

Mergers and Acquisitions (M&A) is a sector that is highly elastic in its behaviour. Successfully acquiring and integrating FinTech companies poses a significant challenge. According to FT Partners, as many as 1,485 M&A deals occurred in the FinTech space in 2021, totalling $348.5 billion. Moreover, in the first half of 2022 $76.8 billion was invested across 3,447 deals, according to data from FinTech Global.

Here are 10 notable FinTech mergers and acquisitions announced in Europe in 2022:

• Luko and Coya

In January, French insurance firm Luko announced that it is acquiring German start-up Coya to grow its European presence and get an insurance license from German regulators. The company said it was a 100% share deal, which means that Coya investors are now Luko investors. Those investors include Valar Ventures, Headline, and Roland Berger’s family office.

• Sambla Group, LVS Brokers, and Salus Group

In February, the Sambla Group signed agreements to acquire two Finnish online loan comparison platforms LVS Brokers and Salus Group. The acquisition was aimed at establishing a stronger position in the Nordics and driving industry development by helping more customers improve their loans and mortgages.

• +Simple closes three acquisitions

In March, +Simple acquired two independent brokers: France-based Alians and Germany’s Carl Rieck Assecuradeur. Additionally, it purchased Matintec, an underwriting agency in Italy. +Simple hoped that the new additions would help it expand its distribution capabilities.

• GoHenry and Pixpay

GoHenry, the prepaid debit card and financial education app for kids acquired French FinTech Pixpay, with an aim to expand into Europe. Despite the acquisition, GoHenry and Pixpay continued to operate under their own brands with no change in leadership, headquarters, or headcount.

• Verso Wealth Management and Campbell Thomson

In August, Verso Wealth Management announced its acquisition of Campbell Thomson Insurance Services Limited. This acquisition brought its total assets under management to over £1 billion. It became the fifth acquisition by the Verso platform and the first based in Scotland, as it looked to expand its UK outreach.

• Carta and Capdesk

In September, US FinTech unicorn Carta acquired UK counterpart Capdesk for an undisclosed sum. Both Carta and Capdesk allow founders of high-growth companies to manage their cap tables as they scale.

• Stubben Edge and Finpoint 

In October, Stubben Edge acquired credit brokering intermediary Finpoint to broaden its financial services offering. The deal came after the approval by the Financial Conduct Authority (FCA). It expanded the UK FinTech and allowed it to provide help to brokers and IFAs. Stubben Edge aimed to help them build a comprehensive proposition across insurance, loans, and cash for SMEs.

• Visma and OutSmart

In the same month, European cloud software provider Visma acquired SaaS scale-up OutSmart, a provider of field service management software for SMEs. OutSmart is based in the Netherlands and operates in Belgium, Germany, and Portugal. Joining Visma would allow OutSmart to accelerate its growth ambitions.

• Worldline and Banco Desio

With an aim to boost its presence in Italy, French payments giant Worldline acquired Banco Desio’s merchant acquiring activities for around €100 million in November. Banco Desio’s merchant acquiring portfolio delivers payment solutions to around 15,000 companies, generating about 40 million transactions per year. Worldline said the deal is expected to close in the first quarter of 2023 and would bring in extra revenue of around €15 million within the first year.

• EQT Private Equity and Billtrust

Global investment firm EQT Private Equity completed its acquisition of B2B payments company Billtrust. The transaction was announced on September 28 and was approved by shareholders on December 13, 2022. The all-cash transaction valued Billtrust’s equity at about $1.7 billion and came a year after the company began trading on Nasdaq. Under the terms, Billtrust shareholders received $9.50 per share in cash.

ALSO READ: Global Core Banking Vendors & Landscape Report Q3 2022