Warburg Pincus invest $125 Million into LendingPoint

LendingPoint, a financial technology platform, today announced a $125 million preferred equity investment from Warburg Pincus LLC, a leading global private equity firm focused on growth investing.

Warburg Pincus has invested over $11 billion across the full spectrum of the financial services landscape, including insurance, banking, asset management, specialty finance, payments, and transaction processing. Together with the Warburg Pincus investment, LendingPoint has raised more than $325 million of equity to date.

The Warburg Pincus investment follows an impressive 2020 for LendingPoint, who ended the year profitable, closed its 10th securitization transaction, launched its SDKn platform, enhanced its point-of-sale merchant platform, and partnered with a leading global ecommerce platform to provide small business capital to their sellers.

MX raised $300 Million valuing the business at $1.9 Billion USD

Utah-based fintech startup MX said on Wednesday it raised $300 million in a funding round led by private equity firm TPG, giving it a valuation of $1.9 billion, as companies and investors seek to bet on the fast-growing e-commerce sector.

The boom in e-commerce and other contactless payment technology during the pandemic resulted in a record year for venture capital investments in U.S. fintech companies with $20.6 billion invested.

Other investors in the fund-raising round include CapitalG, Geodesic Capital, Greycroft, Canapi Ventures, and Digital Garage.

The EU Clears acquisition of Refinitiv by the London Stock Exchange

The European Commission said on Wednesday it approved the $27bn (£22bn) acquisition of Refinitiv by the London Stock Exchange Group (LSEG).

The all-share deal will see the stock exchange group acquire Refinitiv from private equity giant Blackstone, which owns 55% of the company, and Thomson Reuters, which owns 45%.

The commission wanted to ensure that the markets will remain open and competitive and the acquisition will not lead to higher prices. In October last year, LSE agreed to sell Borsa Italiana to French rival Euronext, expecting the sale of the Italian stock exchange to help it overcome the EU regulatory obstacle of its Refinitiv buy.

NCR Corporation makes offer for Cardtronics

NCR Corporation on Monday offered to buy Cardtronics for about $1.73 billion in cash, threatening to derail the ATM operator’s acquisition by private equity firm Apollo Global Management Inc. and investment firm Hudson Executive Capital.

Apollo and Hudson Executive’s offer indicated a value of $2.3 billion, including net debt. Hudson Executive is Cardtronics’ largest investor with a 19.44% stake. Other investors include BlackRock Institutional Trust and Vanguard.

Houston-based Cardtronics’ debit network combined with NCR’s payments platform will enable the merged company to connect their retail and bank customers, according to NCR’s Chief Executive Officer Mike Hayford.

Affirm Inc plans $9 Billion IPO

Affirm, Inc., founded by PayPal co-founder Max Levchin, is aiming for a valuation of over $9 billion in its initial public offering, the lending startup said in a filing on Tuesday.

Affirm’s major investors include Peter Thiel’s Founders Fund, Singaporean sovereign wealth fund GIC, Scottish asset manager Baillie Gifford, investment firm Spark Capital and Fidelity Management, LLC and W Research Company LLC

Companies raised a record $167.63 billion in the United States in 2020. In comparison, $108 billion was raised in 1999, the previous record for capital raised through new issues.