Today, the fintus Group announced it had acquired finstreet GmbH, which is headquartered in Münster, Germany. In this way, fintus is underscoring its growth trajectory, commenced in 2021 and supported by London private-equity investor AnaCap Financial Partners. AnaCap has for many years been investing in European financial services providers: Its portfolio includes banks, financial service providers, and in Germany at present stakes in WebID and MRH Trowe, not to mention successful commitments in the past, for example to Heidelpay.
Since 2014, finstreet has specialized in mastering the digital challenges within the financial services industry and realizes technical solutions and innovative business models, ranging from developing individual products to order through to standardized software-as-a-service products. With a payroll of about 90 persons and in excess of 400 clients – amongst them renowned financial institutes such as DZ BANK AG, German guarantee banks, savings banks, the Volk- und Raiffeisenbanks, and countless specialist service providers – finstreet has for years been considered one of the real champions supporting the digital transformation of the financial services sector.
Clients of fintus and finstreet will now benefit from their combined strengths. Together they will form a corporation with about 170 experts. Both companies will continue along their chosen path: The emphasis will on the one hand be on expanding fintus’ low-code banking platform as well as its successful DialogOnline and eco.banking products, and, on the other, on driving finstreet’s individually developed exclusive solutions. The holistic offerings will support clients better than previously along the road to transforming their own business models including strong automation.
Moreover, the group will tap into the strengths of the two companies in order to further advance shared existing standard products and create new joint products. The fintus low-code banking platform will in future utilize components from the finstreet platform and will make available its own functions for use expanding finstreet products. Here, the focus will be on providing an outstanding experience for staff in financial institutes and for their prospective and existing customers.
The finstreet management team of David Niedzielski (CEO), Dr. Holger de Bie, Patrick Lukas, Fabian Kammering, Tristan Zellner and Lutz Bigalke look forward to the future collaboration. In this regard, Niedzielski explains: “We are united by a shared vision: to provide outstanding customer and user experiences as well as to lock into the potential efficiencies that process digitization can give financial service providers. The future networked service portfolio will enable us to further boost the speed of our development work and at the same time superbly meet all the regulatory requirements that our sector focus entails. We’re convinced that in the next few years we will hold our own in the market as one of the few relevant service providers with an exceptionally broad thematic range – together we will spearhead that trend.”
Anja Scheffka, COO of the fintus group, comments: “The teams in the two companies complement one another brilliantly. Only a few days after the ink was put to the contracts, joint projects had already launched. The teams are united by the fact that we are preserving the two corporate cultures and combining this with a great interest in shaping the future. The short-term task that we will successfully master together involves creating continuity and stability as well as advancing our shared values.”
Together, management is very much looking forward to the coming year. The focus for 2023 will be on accelerating transformation in the financial industry, improving customer experiences, and strengthening the in-house team – along with organic and inorganic growth that will be fuelled by additional corporate acquisitions.