Netcompany buys 20% stake in Danish FinTech Festina Finance
By Gloria Methri
Netcompany has acquired a 20% stake in Festina Finance, a provider of software for the Life and Pension industry with a customer base in Denmark and the Netherlands. The strategic investment will accelerate the entry into new markets for Festina Finance and enhance Netcompany’s offering in the financial services industry significantly.
Customers include large life pension companies like Pension Denmark, AP Pension in Denmark, and APG and AZL in the Netherlands.
In addition, Festina Finance offers a “state-of-the-art” software solution used for advisory roles in banks. Customers on that platform include SDC and more than 20 member banks in Denmark, as well as a few building societies in the UK.
The strategic investment in Festina Finance will broaden Netcompany’s offering and competencies within the financial services industry to cover insurance, life pension, and banking in line with the ambition to increase presence in that sector further.
The two solutions from Festina Finance can be enhanced with current Netcompany platform solutions such as Pulse, Amplio, Ami, and DX4B, thereby increasing customer value substantially.
André Rogaczewski, CEO and Co-founder of Netcompany, said, “I am excited that Festina Finance joins forces with the Netcompany Group. Festina Finance has proven to be able to develop scalable software solutions that can be implemented in multiple countries. The large-scale implementation projects that these solutions often require are a perfect match for Netcompany´s implementation capabilities, and we are certain that this investment will accelerate our growth in the Financial Services Industry throughout Europe significantly.”
Morten Schantz, Founder of Festina Finance said, “With the partnership that we are entering into with Netcompany we get to focus on what we do best – develop software solutions, while Netcompany gets to do what they do best – implement complex and mission-critical IT solutions. To me, that is a true “win-win” that will enable Festina Finance to accelerate its growth and together with Netcompany enter new markets.”
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