Teybridge Capital Europe completes acquisition of London-based fintech Atom CTO
Teybridge Capital Europe, the Dublin-headquartered provider of trade finance and working capital solutions for SMEs and corporate businesses, has completed the strategic acquisition of Atom CTO, a London-based fintech company with operations in the UK, Zagreb, Riga, Delhi and Bangalore.
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Under the terms of the transaction, Atom CTO will become Teybridge Tech and will continue to be led by its co-founder and managing director Bhairav Patel. Mr Patel will also become Chief Technology Officer (CTO) at Teybridge Capital Europe as part of the agreement. Atom CTO currently employs five full-time staff and is supported by a team of 20 IT consultants.
Teybridge Capital Europe’s acquisition of Atom CTO and the establishment of a new Teybridge Tech division is part of the Dublin-headquartered company’s strategic growth strategy to enhance its service offering to customers right across the European market and provide bespoke fintech platform solutions to clients.
Teybridge Tech will target institutional banks and financial lenders seeking best-in-class Software as a Service (SaaS) solutions to replace outdated legacy IT infrastructure or to enhance existing customer facing technology platforms.
Another strategic reason for the acquisition was Teybridge Capital Europe’s existing longstanding relationship with Atom CTO, which originally designed and developed the company’s proprietary fintech platform called BRIDGE, which provides clients with access to working capital finance solutions.
The acquisition will allow Teybridge Capital Europe to bring the expertise behind its BRIDGE platform in-house and leverage the vast experience in Atom CTO for developing fintech platforms for other customers.
Commenting on the deal, Dylan Martin, CEO of Teybridge Capital Europe, said:
“I’m pleased to announce that Teybridge Capital Europe has completed the acquisition of Atom CTO - a company that we’ve worked very closely with over the years and understand the deep expertise within the business.”
“This strategic acquisition allows us to establish Teybridge Tech, a new division for Teybridge Capital Europe that broadens our service offering and will allow us to develop bespoke fintech solutions for clients in the banking sector”
“As part of the transaction, I’m delighted that Bhairav Patel is staying with the business and will lead Teybridge Tech into the future, while also becoming CTO of the enlarged Teybridge Capital Europe group. I’ve worked closely with Bhairav for many years, and he brings enormous experience and expertise to the business.”
Bhairav Patel, co-founder and Managing Director of Atom CTO, said:
“I’m proud to say that Atom CTO will now become part of Teybridge Capital Europe as part of this transaction. Our company has worked very closely with the team in Teybridge Capital Europe over many years, and this transaction is a natural evolution of the strong partnership we’ve developed together.”
“By establishing Teybridge Tech, we believe we can bring our award winning fintech solutions to a much broader customer base of banks and financial lenders across Europe, while continuing to service our existing clients.”