back Back

Nordic Capital to invest in Duco Technology to boost expansion

By Megha Bhattacharya

July 16, 2021

  • Europe
  • Nordic
Share

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.

Previous Article

July 16, 2021

Cambridge Savings Bank announces new digital banking division, Ivy Bank

Read More
Next Article

July 16, 2021

BharatPe aims for 3x growth in POS business by FY22

Read More






IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

February 05, 2025

Moneyhub powers Money Squirrel’s financial management app for SMEs

Read More

February 03, 2025

Danske Bank to integrate BlackRock’s Aladdin Wealth platform

Read More

January 23, 2025

Marqeta powers Trading 212’s expansion across Europe

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q4 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2024
Know More