- UK-based Fintel, a provider of fintech and support services for the retail financial services industry, has acquired a 70% stake in fintech start-up ifaDASH.
- The acquisition is valued at £500,000 initially, with the potential for up to £1 million in additional contingent cash consideration based on ifaDASH meeting specified profitability and revenue targets over the next year.
- Fintel also has a two-year option to purchase the remaining 30% stake in ifaDASH for an agreed multiple of EBITDA.
- The acquisition was made through Fintel’s technology and knowledge platform, Fintel IQ.
- ifaDASH offers a tech solution that integrates front and back-office CRM data, along with details of vulnerable clients, onto a unified platform to help firms monitor, control, and grow their business while ensuring compliance.
- The acquisition supports Fintel’s strategy to strengthen its CRM capabilities, following its recent investment in CRM entrant Planner.
- Additionally, Fintel has announced a new £1.5 million distribution agreement and investment in Mortgage Brain, a mortgage technology firm, allowing Fintel’s clients access to Mortgage Brain’s mortgage sourcing and submission software through Fintel’s platform.
- Fintel has been actively acquiring fintech companies, with previous acquisitions including VouchedFor and AKG in November 2023 for a total of £9.1 million.
![Fintel acquires an initial 70% stake in UK start-up ifaDASH Fintel acquires an initial 70% stake in UK start-up ifaDASH](https://www.fintechinshorts.com/wp-content/uploads/2024/03/pexels-cottonbro-studio-4778406-1068x1602.jpg)
Fintel acquires an initial 70% stake in UK start-up ifaDASH
Hot this week
Blogs
Banking as a Service: Meaning, Examples, Benefits and Future
The push for open banking has led to a...
Blogs
Best fintech blogs and websites
Fintech (financial technology) has been an interesting part of...
Blogs
Is it worth investing in life insurance over 60?
Is it worth investing in life insurance over 60?
As...
Topics
AI
Lloyds Bank taps Cleareye.ai to streamline trade finance documentation processing
Lloyds Bank has partnered with Cleareye.ai, a California-based...
Banking
Home equity fintech Unlock bags $30m Series B funding
Unlock Technologies, a US fintech founded in 2019,...
AI
Ghana’s Fido raises $30 million in debt and equity to extend AI-powered lending services across Africa
Fido, a Ghanaian fintech, secured $30 million in...
Banking
Alternative investment platform CAIS hires Kan Kotecha as CTO
Kan Kotecha has been appointed as CTO to...
Banking
Anthony Watson steps down from role as CEO of The Bank of London
Anthony Watson is stepping down as CEO to...
Banking
Axway completes €330m acquisition of Sopra Banking Software
Deal Overview: Axway acquired SBS from Sopra Steria...
Banking
EU financial services analytics maturity report
Current State of Analytics: Evaluates the existing analytics...