Nordic Capital to invest in Duco Technology to boost expansion

By Megha Bhattacharya

Nordic Capital announced an agreement to invest in Duco Technology Limited and acquire a majority shareholding from current investors, CME Ventures, Insight Partners and Eight Roads Ventures. Founder Christian Nentwich will remain as a shareholder and Chief Executive Officer. The terms of the transaction were not disclosed. Arma Partners served as financial advisors to Duco management and institutional shareholders.

“We are very pleased to be partnering with Nordic Capital for the next part of Duco’s journey. Together we will be able to take the business to its next level as they have a strong track record of scaling fast-growing businesses such as Duco. Companies face huge, unsolved problems in the data management and data automation areas. We are passionate about solving these problems in new ways that make people’s work lives more enjoyable and have immediate and substantial agility and cost benefits to our clients. Nordic Capital’s strategic expertise, focus on growth and execution best practice mean that we can accelerate from here and strengthen our strategy with both organic and acquisition growth in the future,” said Christian Nentwich, CEO, Duco, adding “I would also like to thank our outgoing investors and our independent board members, Cris Conde, Kirsten Wolberg and Spencer Lake, for their support and guidance that led us to where we are today.”

Duco provides Software as a Service (SaaS) solutions in the cloud to Financial Services, Insurance and FinTech companies dealing with mission-critical data management issues. Duco’s mission is to “make managing data easy” by replacing spreadsheets and technology-heavy solutions in areas like data prep, reconciliation, data quality and data management with a user-friendly, machine learning-powered platform.

“The reconciliation market is growing quickly with strong structural tail winds. Duco brings state-of-the art solutions challenging established legacy point solutions and vastly improve processes. Duco has demonstrated strong leadership and innovation to move technology in Financial Services forward, with its focus on cloud-only delivery and self-service for end users. We are excited about the positioning of the company to respond to major trends that are gaining rapid traction, its great reputation with its clients, and the strength of its technology. Nordic Capital is looking forward to supporting the next phase of Duco’s journey alongside Christian and the management team,” said Emil Anderson, Principal, Nordic Capital Advisors.