Octopus Group acquires Brit fintech Seccl Technology for £10 mn

octopus group

Simon Rogerson, CEO & co-founder,  Octopus Group

UK-based investment firm Octopus Group is all set to acquire British fintech Seccl Technology Limited for £10 million in a bid to expand its reach to the platform technology market that is supporting the retail financial services.

The Group states that besides the acquisition, it will provide Seccl with continued investments and will simultaneously expand the fintech’s team with engineering enhancements, new product & design staff and more.

Simon Rogerson, CEO, and co-founder of Octopus Group said, “We are delighted to welcome the Seccl team into Octopus Group. Seccl’s innovative technology has the potential to completely transform the customer and client experience across retail financial services.”

The press release stated that Seccl and Octopus will offer investment integration solution alongside Octopus Cash ( Octopus Investment’s cash management solution).

Established in 2017 and headquartered in Bath (England), Seccl utilizes open API custody solution for assisting financial advisers, wealth managers as well as fintechs in the management and administration of clients’ monetary tasks. The API technology facilitates communication between software pieces and allows Seccl to control the client experience and integrate with other services.

Hugo Thorman, co-founder of Seccl, added, “The industry is on the cusp of a fundamental shift in the way it uses technology and I have always believed that our API-first technology would radically disrupt the market. With Octopus’ backing and expertise we are now well-positioned to make this happen and drive change even faster.”

Post-acquisition and regulatory approval, David Harvey (CEO) & Hugo Thorman will retain their positions in Bath and London.

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