StanChart Invests in Fintech M&A Company, Joining Citi, BNP

Standard Chartered Plc will take a stake in United Fintech Group, becoming the fourth large bank this year to invest in the London-based company as it negotiates new acquisitions to serve the capital markets industry.

Standard Chartered will get board observer rights and may later receive a rotational board seat, the two companies said on Thursday. They didn’t disclose the size of the stake or the price.

“The investment from Standard Chartered will be used to fund further growth via M&A where I can confirm that United Fintech is in advanced talks with several acquisition targets,” founder Christian Frahm ...