United Fintech, which enables banks and financial institutions to accelerate their digitalisation efforts, has acquired a 25% stake in London-based FairXchange for an undisclosed amount. This is the third acquisition in the company’s first year of operation.
United Fintech said this is the first transaction in a multi-stage acquisition toward full ownership of FairXchange.
Trading firms use FairXchange’s analytical tools to facilitate data-driven dialogue with their counterparties. According to United Fintech CEO Christian Frahm, FairXchange fits hand-in-glove with United Fintech’s strategy of acquiring state-of-the-art Capital Markets software products ready for scaling and global roll-out on United Fintech’s platform.
Launched in 2020, United Fintech acquires and scales innovative FinTechs in capital markets, creating a “go-to FinTech platform” that financial institutions can benefit from to accelerate their transition to a digital world.
Frahm said, “FairXchange’s business critical, data-driven product, Horizon, is already being used by an extensive client base including a number of global financial institutions, and with the onboarding to United Fintech’s platform, we look forward to enabling FairXchange to continue its growth journey and scale with us.”
At the beginning of this year, United Fintech acquired a 25% stake in the RegTech company TTMzero with the intention of increasing it to 80% over the next three years. United Fintech’s acquisitions to date also include NetDania, which provides market data, APIs, market terminals, charting components and full white-labels.
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