Motive Partners takes majority stake in Finantix
Financial details were not disclosed. Both firms are a bit vague but Motive will support the company and the founders (Ralf Emmerich and Alessandro Tonchia) in “extending the functional footprint of the product and in accelerating geographic expansion”. The latter means Europe, Asia and to enter the US market.
Scott Kauffman, partner at Motive Partners, says Finantix has demonstrated its ability to create a “compelling product, bringing a leading technology platform to an ever-increasing set of blue chip clients”.
Finantix’s founders and the management team will continue to lead the company.
The company has over 250 staff in seven cities and a customer base in more than 45 countries. Some of its clients include Rothschild Bank, Crossbridge Capital and DBS.
Motive Labs, the operational and technology team of Motive, will also work with Finantix.
Back in March, Finantix acquired Singapore-based Smartfolios, a creator of quant-enabled investment tools. No financial details in that deal as well.
As reported last year, Motive powered up and revealed its plans to invest in fintech firms in the UK and US.
According to its Form D filed with the Securities and Exchange Commission (SEC) in the US, Motive was looking to raise $150 million.
“Our mission is to back and build the next generation of financial technology businesses to transform markets, models and society,” the company said on its website.