Cathay Capital, Bpifrance acquire majority stake in NeoXam

Cathay Capital and Bpifrance have agreed to acquire a majority stake in financial software developer NeoXam from BlackFin.

NeoXam’s executive committee and BlackFin chose Cathay Capital due to its resources within Europe, China and the US and selected Bpifrance because of its institutional footprint. Through its new owners NeoXam hopes to boost its presence in key markets, with a focus on APAC and the US.

Paris-headquartered NeoXam is a global financial software developer to support the buy-side and sell-side through process automation. The platform is used by asset managers, asset management boutiques, asset servicers, banks, and institutional investors.

Its products can help financial institutions with lowering risk and cost on reconciliation, access a user-oriented data management tool, simplify investment accounting and reporting, and manage pre and post-trade compliance.

Over the past two years, NeoXam’s revenue, currently around €62.5m, has increased by 25 per cent. The company also completed 32 deals and hired more than 150 employees in this period.

BlackFin Capital Partners chairman Laurent Bouyoux said, “We are proud of the robust and profitable model achieved by NeoXam in less than 4 years after its carve-out led by BlackFin, thanks to successful organic & external developments.

“We have been very supportive of Serge Delpla and the management in their ambitious geographical expansion strategy, which allowed Neoxam, initially France/Europe focused, to become a truly global player.”

Last month, Bpifrance joined a group of new investors to contribute to Symphony’s $67m funding round. The company builds secure communication services for financial services, providing messaging for internal and external teams, document and content sharing and meeting conferencing.

The banking infrastructure sub-sector of infrastructure and enterprise software space was dominated by North America, according to data by FinTech Global. The region represented 68 per cent of the total equity deployed to companies in the area.

Copyright © FinTech Global

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