Manigo, a prominent London-based fintech infrastructure platform, today announced its acquisition by Invex Ventures, a seasoned investor in the FinTech sector.
This acquisition marks a significant expansion of Invex Ventures’ already substantial portfolio of FinTech solutions, which includes The Minted Edge, TrustXPay, Reconx, NovaGlobal, and Minted Connect.
With its robust turnkey technology solution, Manigo enables businesses to launch their own branded cards, accounts, and payment services. The platform is renowned for its capability to integrate various vendor services seamlessly, boasting 23 vendor integrations to date. This includes ten banking rails providers and three leading issuing processors, extending its services across the UK, Europe, Saudi Arabia, and the Americas.
The integration of Manigo under Invex Ventures will enhance the platform’s core banking and vendor orchestration capabilities, further refining what Manigo can offer to its current and future clients. The firm has made a notable impact on the FinTech landscape by enabling businesses to save around £4m and reducing development times from nearly two years to just two months.
Shahid Munir, General Partner at Invex Ventures, expressed his enthusiasm about the acquisition, saying, “Reflecting our commitment to supporting forward-thinking fintech companies, we’re delighted to bring Manigo on board. We’ve already seen how the company’s innovative SaaS solutions have truly simplified the way businesses can deliver banking and other financial offerings and we are looking forward to working with Manigo and its clients now, and into the future.”
Olya Parafiyanovich, co-founder of Manigo, also commented on the new partnership: “With a wide array of specialised solutions, we believe the future of Fintech lies in seamless and resilient infrastructure connectivity. We are on a mission to deliver it to the market. Partnering with an established investment firm with deep experience in technology and fintech starts a new chapter for Manigo, as we shift our focus entirely towards tech enablement. With their support, expertise, and resources, we’re looking forward to multiplying vendor integrations and expanding our global market presence, continuing to simplify Fintech by removing the technology barriers for our clients.”
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