Fenergo announces conclusion of its acquisition by Astorg and Bridgepoint
By Megha Bhattacharya
Fenergo, the provider of Know Your Customer (KYC) and Client Lifecycle Management (CLM) software solutions for financial institutions, has announced the conclusion of its acquisition by Astorg and Bridgepoint. The transaction was completed following approval by the European Commission.
Marc Murphy, Founder and CEO of Fenergo said: “We are excited to embark on the next chapter of our story with Astorg and Bridgepoint following the conclusion of our acquisition. Both firms have a proven track record in investing in and scaling high-growth firms like Fenergo. The acquisition validates the unique value Fenergo delivers to financial institutions in today’s rapidly evolving business environment, and we look forward to continuing our growth trajectory with the support of our new investors.”
The company recently strengthened its C-suite to work alongside Marc Murphy, who will continue to strategically steer the business towards organic and inorganic growth. It will drive deeper market penetration and geographic footprint through the continued innovation of its SaaS and on-premise platforms and product line development.
Recently, Fenergo announced that it has launched Fenergo KYC & Onboarding for Salesforce on Salesforce AppExchange. The development is expected to provide customers with ways to deliver automated straight through client journeys while satisfying Anti-Money Laundering (AML) and Know Your Customer (KYC) regulatory requirements.
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