Fintech dealmakers say 2025 brought a clear pickup in M&A after a slow 2023 and 2024, with more sponsor-to-sponsor trades, corporate carve-outs and roll-ups getting done.
State of play: Growth and PE investors describe a bifurcated market, with strong demand for high-quality assets in wealth, payments and private-market infrastructure, while anything rate-sensitive or with choppy growth struggles to clear.
