United Fintech has acquired a 25% stake in funding portfolio administration fintech Athena Techniques for an undisclosed quantity.
The multi-stage acquisition deal is the corporate’s fourth acquisition in 14 months.
The fintech conglomerate intends to acquire one other 26% of Athena in two years and the remaining 49% in three years, in addition to onboarding Athena, its purchasers and workers onto United Fintech’s digital platform.
Athena has workplaces within the US, Spain and Vietnam and supplies companies for asset managers and hedge funds.
The transfer is a part of United Fintech’s plan to carry numerous capital markets fintechs underneath one umbrella. The Athena acquisition sees it increasing its remit by focusing on the asset administration business because it seeks to construct a broad capital markets platform.
The deal follows United Fintech’s acquisition of London-based trading analytics firm FairXchange final November, once more for an undisclosed quantity.
The acknowledged intention of United Fintech CEO Christian Frahm is to turn into a “one-stop-shop” for large banks in want of technological innovation.
“The monetary companies business is waking as much as a actuality demanding not solely that they digitise, but additionally assist their purchasers digitise,” Frahm says.
“Similar to banks, the managed cash area is seeing enormous disruption from free inventory buying and selling, robo-advisors and new fintech start-ups, and that is the place fintech — and specifically Athena — could make an enormous distinction.”