United Fintech launches in UK and acquires NetDania
United Fintech, a London-based start-up looking to acquire and scale fintechs specialising in capital market software, has launched in the UK.
The firm claims a global sales network and regional office presence which stretches beyond London to New York, Dubai, Singapore and China.
Its first acquisition, NetDania, is Danish and supplies banks, brokers and currency managers with forex and trading technology and data.
Acquirer and implementation partner
United Fintech is headed up by Christian Frahm, founder of Copenhagen-based global holding company CFH Group. Frahm also worked for a time at both Bloomberg and Saxo Bank.
United Fintech’s sales and partner head, Tom Robinson, is a former managing director from Jefferies and Goldman Sachs.
Robinson worked with Frahm during his time at both these firms, as well as Barclays Capital.
Over the next five years, the start-up plans to acquire and scale “a number” of “small to medium-sized engineering-led fintech[s]”.
It mentions areas of interest, including trading platforms, liquidity management and regulatory reporting tools, Big Data tools, institutional blockchain, bots and virtual assistants.
These acquisitions will then provide banks and financial institutions with “easy access” to capital market data and technology, as part of their larger digital transformations.
“[We] can also help with implementation including technical onboarding, vendor onboarding, technical due diligence and credit due diligence,” says Frahm.
“With the current trajectory it is simply too slow for any bank to launch or access new products.”
As well as speeding up banks’ roadmaps, United Fintech also intends to help fintech meet the financial backing required by incumbents in the procurement process.
“The timing is perfect for United Fintech’s launch,” explains Robinson.
“Banks know they need to engage with fintechs. We are ideally placed to help them to execute their fintech strategy whilst also helping the fintechs to gain a seat at the table.”
United Fintech now holds an undisclosed majority stake in NetDania.
The Danish fintech provides stock market data, trading signals, and streaming charts, as well as white-label trading technology on mobile and desktop.
Frahm says he has worked with NetDania “for many years”. “They are an ideal fintech for our first acquisition.”
Founded back in 1998, NetDania claims to have pioneered streaming price technology. It has since built up a network of what it claims to be global Tier 1 banks.
It has some 33 employees according to LinkedIn. United Fintech has not disclosed whether it is keeping NetDania’s entire team, and how it will operate under its umbrella.