Fintus completes ‘bolt-on’ acquisition of Finstreet
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Fintus completes ‘bolt-on’ acquisition of Finstreet 10 January 2023Germany Reporter: Jenna Lomax
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German portfolio company and provider of automation software, Fintus GmbH (Fintus) has completed the ‘bolt-on’ acquisition of Finstreet GmbH (Finstreet), a software and services provider.
The acquisition is part of an effort to accelerate Fintus’ growth strategy, following its majority growth investment from specialist advisor AnaCap in November 2021.
The combined group will leverage Fintus’s low-code technology, focused on private and development banks, and Finstreet’s front-end software capabilities and knowledge of the cooperative banking sector.
Fintus says this will unlock cross-selling opportunities across client bases and develop new integrated automation software products for financial institutions.
It also aims to solidify Fintus’ position in the DACH region, with the expansion of its low-code banking platform, Fintus Suite, across Europe.
Founded in 2014 and headquartered in Münster, Germany, Finstreet develops workflow automation software for banks, leasing and factoring companies. It currently employs more than 90 staff and has over 100 clients.
Damjan Stojanovic, investment director at AnaCap, comments: “We are delighted to announce this first bolt-on acquisition which will undoubtedly further support Fintus’ already exciting growth story through the continued development of product and service offerings across Germany. We look forward to announcing further acquisition activity in the first half of 2023 and beyond.”
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