United Fintech announces acquisition of German regtech TTMzero
UK-based scale-up firm, United Fintech, has acquired German regulatory technology and capital markets firm, TTMzero.
United Fintech has taken a 25% stake in TTMzero with an intention to increase the share to 80% by the end of 2024.
Founded in 2013, TTMzero offers two proprietary products: a financial instruments automation platform, and a real-time analytics system.
It aims to help clients comply with reporting requirements across the widest range of jurisdictions possible.
The firm employs a team of 25 in Berlin, and claims to have more than 20 “large” financial institutions on its books.
Formed in November 2020, United Fintech is led by former Bloomberg and Saxo Bank man Christian Frahm.
United Fintech’s sales and partner head, Tom Robinson, is a former managing director from Jefferies and Goldman Sachs.
Over the next five years, the start-up plans to acquire and scale several of “small to medium-sized engineering-led fintechs”.
It then aims to provide banks and financial institutions with “easy access” to capital market data and technology, as part of their larger digital transformations.
“An ideal partnership”
“We are very excited that TTMzero is now part of United Fintech,” says Frahm. “They are market leaders in their field, with two of the largest investment banks relying on their infrastructure.
“The acquisition is a key milestone in our quest to help banks to digitise their operations and facilitate the implementation of innovative, cost-saving capital markets products.”
TTMzero’s managing partner and head of business development, Simon Ullrich, says the deal creates “an ideal partnership”.
“Our skillset is very much focused on developing cutting-edge technology for banks and financial institutions,” he says. “To realise the full potential of our platforms, we welcome support with sales, marketing and distribution.”
United Fintech has come out of the blocks with two quick acquisitions now. Its first, of Danish fintech NetDania, occurred the same month it launched.