Private equity firm Amerbourgh has sold a 35% stake in Dutch core banking vendor Ohpen to NPM Capital.
Founded in 2009 by a team of bankers and software developers, the Ohpen cloud-native platform administers savings and investment accounts for mid-market clients such as Aegon, Nationale-Nederlanden, Volksbank and other banks, investment institutions and insurers. The company employs over 120 people in the Netherlands and Spain.
Rutger Ruigrok, managing director at NPM Capital says: “The technology sector is an increasingly important focus point in our investment portfolio. Already, we have had Ohpen in sight as one of the most promising technology companies that we have seen in the past few years. We are impressed with their achievements over the past ten years: a cloud native core banking engine, an impressive customer base and a wonderful foundation for further growth."
Matthijs Aler, CEO of Ohpen says the addition of a new shareholder broadens its option for future financing. The firm closed a €25 million Series C investment round with PE firm Amerborgh in February last year, bringing total funding to date to EUR40 million.
Matthijs Aler, who took over as CEO from Ohpen founder Chris Zadeh in January, says: “With Amerborgh and now also with NPM, we have a well-balanced long-term shareholder structure that enables Ohpen to realize all of its future growth ambitions.”
He says the company intends to extend its services to large banks and the pension market in the coming year.
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