FinTech IPO Index Adds 2.6% as Paysafe Jumps on Takeover Reports

The FinTech IPO Index’s gains this past week — up 2.6% through Thursday (Feb. 6) across the past five sessions — were tied to a mix of newsworthy events.

Earnings. Partnerships. And rumors of a possible takeover.

Several names were up double digits through the past few days. Oportun’s stock gained 31.5% ahead of earnings that are scheduled to be released next week. As we move through the next several months, the quarterly reports will come full steam ahead; through the last few days of January and into the early days of February, the overall index is up about 9.5%.

AMTD Group was 21% higher. A company announcement revealed that alongside World Media and Entertainment Group, a subsidiary of AMTD Group under AMTD Digital, jointly announced a comprehensive partnership with Beijing Alibaba Pictures Culture Ltd. Through that partnership, AMTD, WME and Alibaba Pictures Culture have “committed to collaborating on film investments and promoting the development of the Chinese film industry. Moreover, the parties aim for long-term collaboration in culture, entertainment and fashion media areas,” the announcement noted.

Paysafe shares jumped by 17%. As reported Thursday, the company is the midst of considering a sale after getting takeover interest. The company is exploring options with the help of a financial advisor, per various media reports from sites such as Bloomberg. Paysafe did not immediately reply to PYMNTS’ request for comment.

FinWise Weighs in With Earnings

As for earnings, FinWise reported that loan originations in the fourth quarter totaled $1.3 billion, up from $1.2 billion last year. Nonperforming loan balances were $36.4 million as of the end of 2024 and up from $27.1 million in the previous year. Investor materials revealed that total deposits were $545 million, compared to the fourth quarter of 2023’s reading of $404.8 million.

Robinhood shares were a slight 0.3% higher.

As reported by The Wall Street Journal on Tuesday (Jan. 4), the company is withdrawing its plans to offer betting contracts on the Super Bowl, following pushback from the Commodity Futures Trading Commission, which, according to the WSJ, “raised concerns that the contracts might be illegal.” The betting contracts had been tied to a partnership with prediction market Kalshi.

Nubank shares gathered 2.5%. As PYMNTS reported Jan. 20, Nubank’s parent company is reportedly considering moving its “legal domicile” to Britain before beginning a planned global expansion. Nu Holdings, the parent company is currently domiciled in the Cayman Islands. The company is reportedly considering an expansion into the United States.

In other news related to partnerships, Paymentus and InsurTech company Duck Creek Technologies launched the Duck Creek Payments Marketplace, billed as “a payment ecosystem tailored for the global insurance industry.” The marketplace, according to the announcement, accelerates payments integration for participants, offering carriers end-to-end payment management.

Paymentus stock was up 0.7%.

Shares of OneConnect slipped by more than 12%. The company said this week that it had appointed Chen Dangyang as the new executive director, CEO, and chairman of the board, effective Wednesday (Feb. 5).

Other management changes took effect this past week, as nCino, announced the appointment of Sean Desmond as president and CEO. He had most recently served as chief product officer.