Private equity firm Motive Partners has acquired a majority stake in Finantix, which provides a bundled set of components and software development tools for financial firms beginning their digital transform journeys.
Founded in Italy in 1994, Finantix now has a global customer base spanning over 45 countries, employing 250 staff in seven financial centres across the world.
Motive Partners says it sees substantial opportunities to continue to grow in Europe, Asia and to enter the US market, as well as the potential to bolt on further acquisitions.
Ralf Emmerich, Co-founder of Finantix, commented: “Our technology enables private banks, wealth managers and insurance firms to digitally transform the customer experience, from sales, advisory and onboarding through to product origination and management functions. Motive Partners’ experience in growing financial technology businesses on a global scale, combined with their extensive network, makes them an ideal partner for the next stage of our growth.”
The value of the transaction was not disclosed.