FinTech M&A is alive: Wagestream buys Keebo 🤑; Riding the hype: Visa creates $100M Generative AI Venture Fund 💸
FinTech is Eating the World, 3 October
Hey Everyone,
Happy Tuesday! Today we’re looking at the FinTech M&A that is very alive as Wagestream buys Keebo (why it matters + some priceless M&A resources so you could get things right), and Visa that’s riding the artificial intelligence hype as it creates $100M Generative AI Venture Fund (what it’s all about + some bonus deep dives into Visa & how AI is transforming finance as we know it). Let’s jump straight into the hot stuff 🌶
FinTech M&A is alive: Wagestream buys Keebo 🤑
The news 🗞️ Another week another FinTech M&A. This time it’s Wagestream that acquired fellow startup Keebo to expand access to credit for frontline workers.
Let’s take a look.
More on this 👉 London-based financial wellbeing app Wagestream just announced that it has acquired crosstown credit-building FinTech startup Keebo. The acquisition aims to improve access to fairer financial services and credit-building tools for frontline and shift workers, who are often excluded by traditional lenders.
Financial terms of the deal were not disclosed.
The USPs 🥊 Keebo, founded in 2018, was the first credit card company authorized in the UK to use open banking data, rather than just credit scores, to approve customers. Over 25,000 people have signed up for Keebo's credit card, which helps users access credit, manage debts through transparent feedback, and build credit over time.
The acquisition allows Wagestream, whose app already provides budgeting, early wage access, and other services to over 3 million users, to add credit-building tools to its offerings. Wagestream aims to reach the estimated 5 million "credit invisibles" in the UK who lack credit histories and access.
Here’s why it matters + some M&A resources you can’t ignore: