Deals and Funding in Wealth, Asset Management and Banking Technology March 27th to April 1st
M&A Deals March 27th to April 1st
Overview: I captured 3 deals in my research this week. Two come from growth equity backed companies in Canada and the UK, and the 3rd from a publicly listed wealth and financial technology firm in France.
The deals highlight that growth equity investors tend to support management looking for bolt-on acquisitions that both facilitate new market entry as well as additional capabilities that will enhance and extend the current offering of their investment
Purefacts/Xtiva – Revenue Management & Advisor Compensation
Purefacts has developed core strengths in revenue management that are increasingly global in nature, but this acquisition extends its footprint into the internal software domain that tracks, and reports advisor compensation. While there is a strong tendency in EMEA for greater simplification in this area, within the US, the broader spectrum of services that advisors can provide and the different types of compensation that can be associated with products and accounts has allowed xtiva to build a nice SME business in a niche area.??Purefacts gains presence through the acquisition beyond what they gained with buying Quartal, and may also be able to cross sell a few of its own revenue management and advisory solutions through this acquisition to boost its value.
Wealth@Work/Landscape - Financial Wellbeing & Digital Communications
This was actually a dual acquisition as the purchase of Landscape was accompanied by an purchase of the later in the space of digital communications. The acquisition provides Wealth@Work with a new creative capability for financial engagement and wellbeing campaigns. It thus should help the firm to broaden its ability to speak to a larger portion of its corporate employees about matters like wealth accumulation, pension, and protection products on an individual level, and not just via group solutions and executive packages.?The quality of the work done by Landscape is recognized in the broader financial wellbeing space as being both engaging and effective.
Linedata/Audaxys – Leasing/Credit Software & Specialist Financing
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Linedata has increasingly been broadening its footprint in the alternative finance and credit space, which is both a highly specialized area within the software and services market, and also one that is growing as more businesses seek to become vertically integrated.?Some of these will evolve to this capability through a partnership model with an embedded finance market, but Linedata is hoping that those with more scale and reach will prefer to build and manage their own platforms and will do so through established local market providers. Audaxys gives Linedata reach into Iberia, and particularly into the Auto Finance space there.?While asset management has retained an ability to win new clients for Linedata it is finance and credit that is increasingly where the company is focusing.
Early-Stage Funding: March 27th to April 1st
Overview: While some commentators noted that there was a broader spectrum of fintech funding this week as investment interest seemed to return to the payments arena, in the wealth, asset management and banking sector, there were only a few deals that caught my attention this week. These deals shared a common theme in personal finance, which reflects the challenging macro picture, as well as the expectation that consumers are looking for greater assistance from their financial service providers.
Fingoal – data aggregation, insights, personal finance
This was an early stage financing for a firm that is looking to help financial providers make better use of open finance. Their approach is to deliver this through an engagement platform that encourages banks to collaborate with other service providers on campaigns that help their underlying customers budget, save, and spend more responsibly.?Banks often have failed to turn PFM tools into actionable insights and this is where fingoal is trying to make a difference. It will be interesting to see what sorts of collaborations may emerge between different types of service providers, fingoal and financial institutions.
Little Wallet – personal finance, teens, e-money banking
In the US and EMEA, e-money and neobanks have begun to emerge in the family banking space, and now we have a player raising early stage financing in this sort of space in Singapore.?The solution design isn’t all that different, with the possible exception that Little Wallet has learned from others some of the key must haves across financial products, education, and parental controls and has come to market with a clearly vision of how to bring all of these capabilities together.?While many traditional banks are attempting to service younger account holders through their parents, Little Wallet is seeking to engage directly with teens and tweens and bring their parents and guardians in as needed and appropriate, thus encouraging responsibility in money finance.
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1 年Thank you for sharing. Let me check this first and share thoughts to you. ! Roger Portnoy