Fintel, a Huddersfield-based fintech company, has announced its acquisition of Manchester’s Threesixty Services Limited for £14.6 million. This move marks Fintel’s eighth acquisition in the past year, showcasing its ongoing growth and expansion in the UK retail financial services sector.
The strategic purchase aims to bolster Fintel’s service offerings to professional intermediaries while providing Threesixty clients with enhanced access to Fintel’s advanced technology platform. Funded by existing resources, the acquisition is expected to strengthen both companies’ positions in the financial market.
Fintel’s acquisition of Threesixty solidifies its strategic expansion plan in the financial sector. With this acquisition, Fintel aims to strengthen its market presence and enhance its service range. The deal enables Fintel to offer more comprehensive solutions to professional intermediaries, leveraging its existing platforms and services such as SimplyBiz, Compliance First, and SIFA.
Clients of Threesixty will now gain direct access to Fintel’s expansive technology and service platform.
This integration is designed to enhance the quality of services available to Threesixty’s clients, providing them with a broader array of tools and resources to support their financial advising practices.
Fintel has acquired 100% of the issued share capital in Threesixty.
The acquisition was financed with a gross upfront cash consideration of £14.6 million.
This financial maneuver was made possible through Fintel’s existing financial resources, ensuring no additional borrowing or financial strain was necessary.
Over the past twelve months, Fintel has completed eight acquisitions.
These include notable names such as AKG, VouchedFor, Competent Adviser, Micap, Synaptic, Owen James, and ifaDASH.
This aggressive acquisition strategy highlights Fintel’s growth ambitions and its commitment to expanding its influence in the financial services sector.
Neil Stevens, Fintel’s joint CEO, expressed confidence in the growth potential following the acquisition.
“We are delighted to welcome the talented team and prestigious client base of Threesixty,” he stated.
Stevens emphasised the shared commitment to promoting professional financial advice and the intention to grow Threesixty’s brand with full support from its leadership.
This acquisition signals a strong move towards consolidation within the financial services industry.
By integrating Threesixty’s offerings with its own, Fintel is positioned to lead the market in delivering comprehensive compliance and support services.
Fintel’s acquisition of Threesixty represents a strategic move to enhance its service offerings and expand its influence in the financial sector. This acquisition not only benefits Fintel, but also provides Threesixty clients with enhanced technological resources, ensuring a stronger market position for both entities moving forward.
The acquisition of Threesixty by Fintel is a testament to the latter’s strategic vision and growth-oriented approach within the financial services industry. By integrating key technologies and expanding their service offerings, both companies stand to benefit significantly. This deal reinforces the importance of strategic acquisitions in achieving business growth.
