The Düsseldorf e-commerce group The Platform Group AG is expanding its portfolio in the FinTech area. On Tuesday, the company announced the takeover of the business activities of Fintus and Fintus AI.
The group of companies has therefore signed a contract for the acquisition of a 51 percent participation at the umbrella company Finone Holding based in Frankfurt am Main. According to the current status, the transaction will be completed in the coming month. The parties involved had “agreed not to disclose the purchase price”, according to a message.
Fintus “successfully established itself as a platform for software-as-a-service (SaaS) products for heavily regulated financial institutions in Germany and Austria,” said The Platform Group. Sales with SaaS solutions from Fintus are currently in the double-digit million range. According to the future owner, the “heart of the software portfolio adopted” is “the low-code entertainment for financial institutions”.
Dominik Benner, CEO of The Platform Group AG, explained the background of the acquisition. “With the participation in Fintus, we continue our growth in the area of financial platforms after the takeover of Firstwire. In addition, we invest in the sustainably growing segment of the B2B software-as-a-service (SaaS) solutions in the enterprise area,” he said in a statement. The aim of the takeover is to “further expand the use of the Fintus software platform in German-speaking countries and to work with other leading financial institutions in the long term,” said Benner.