Tracking Payments - Issue #6

CFO’s finally get the software they are due.  

+ A16z: The CFO in Crisis Mode: Modern Times Call for New Tools. “Today’s CFO is expected to be part data analyst and part systems architect, stitching together piecemeal data from rudimentary software products.”  

+ Accounting Today: Bill.com’s acquisition of Divvy for $2.5 creates a one-stop shop to automate payables, receivables, expenses and payments for nearly 200,000 businesses and 2.5M payees. This is the latest move that gives corporate CFOs more control...and value...in managing their cash and payment systems relationships.

+ FTPartners: Detailed Transaction Report of Divvy’s acquisition by Bill.com

Some other highlights: 

+ Bank of America: Bank of America’s Complete AP Helps Transform a Company’s Accounts Payable

+ Deutsche Bank: Deutsche Bank launches an innovative one-stop workflow automation solution for treasurers in APAC Emerging Markets

+ PYMNTS: How Closing The AR-AP Gap Boosts Enterprise Modernization

+ Dion Lisle: Brex is leading a B2B Gold Rush. Shout out to Dion for this great visual.


“Bankers, once kings of capital, may be dethroned by payment platforms” 

+ Economist: How fintech will eat into banks’ business, “A bank’s advantage lies in having deposits to exploit, even if they do not know whom they should lend them to. Tech firms’ advantage is that they know whom to lend to, even if they do not have the funds”.

+ CommerceVC’ analysis showed that fintechs are surpassing incumbents market caps. At $97B, Square is worth more than FIS, Fiserv or Global. At $95B Stripe is the largest private tech company in America. And PayPal doubled in market value over the past year to more than $310B, making it the world’s most valuable payment platform.

Incumbents trying to stay competitive.

+ CB Insights: Here’s Where Goldman Sachs, Morgan Stanley, And Other Top Banks Are Investing In Fintech — And Why

+ Goldman Sachs: Why We’ve Moved Into Banking as a Service, “Our fintech-like platform gives us better technology than the large banks, and our banking expertise gives us financial capabilities that the small banks and fintechs can’t offer.” 


Latest Funding, Acquisitions and IPOs:

+ Marketwatch: Galaxy Digital to acquire digital assets infrastructure provider BitGo for $1.2 billion in cash and stock

+ Businesswire: Bitso Reaches Unicorn Status and Becomes One of the Most Valuable Fintechs in Latin America

+ Reuters: U.S. remittance processor Remitly hires advisers for IPO

+ Altfi: Payments giant Marqeta gearing up to be next big US fintech IPO