Nordic Capital is to acquire a majority stake in Zafin, a provider of SaaS core modernisation and transformation solutions for financial institutions around the world. The firm’s founders and management are reinvesting in the company as part of the deal.
Zafin’s core SaaS platform extracts product and pricing from multiple core systems, enabling users to work collaboratively to design and manage relationship pricing, products, and packages. According to a press statement, the platform allows banks to dynamically respond to changing customer and market needs across their entire bank core system footprint, all while ensuring regulatory compliance, transparency, and operational control.
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Zafin’s customers include Wells Fargo, US Bank, HSBC, Truist, ING, CIBC, PNC, and ANZ.
Nordic Capital has over 30 years of experience accelerating the growth of technology companies. The firm has so far made 29 technology investments with an aggregate enterprise value of approximately €24bn.
Terms of the transaction, which is expected to close during Q1 2024 and is subject to customary closing conditions, have not been disclosed.
Goldman Sachs & Co served as exclusive financial advisor to Zafin and Fasken Martineau DuMoulin served as legal counsel to Zafin.
Source: Private Equity Wire
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