United Fintech becomes majority owner of TTMzero 11 May 2023UK Reporter: Lucy Carter
Image: nespix/stock.adobe.com
United Fintech has become the majority owner of regulatory technology firm TTMzero, acquiring a 26 per cent stake in addition to the 25 per cent stake it gained in 2021.
TTMzero is one of five acquisitions United Fintech has made since it was founded in 2021, and has increased revenue more than twofold since the company’s initial investment.
According to Simon Ullrich, co-founder of TTMzero, joining United Fintech’s network will grant the company access to a wider global network and allow them to scale more effectively.
Commenting on the acquisition and the company’s plans for the future, Christian Frahm, founder and CEO of United Fintech, says: "The financial sector is realising that getting off of legacy infrastructure and embracing newer, more open architecture is critical for survival in a world where their customers' behaviour and needs are changing drastically. The best products come from niche product companies — not from large legacy providers.
“That's why our value proposition is attracting interest from financial services firms around the world, all of whom are in a digital race against time, and why these seem to rally around larger core providers over smaller stand-alone software firms."
NO FEE, NO RISK 100% ON RETURNSIf you invest in only one asset servicing news source this
year, make sure it is your free subscription to Asset Servicing Times
Image: nespix/stock.adobe.com 