Dublin, 18th May 2021 – Astorg and Bridgepoint are pleased to announce that they have signed a definitive agreement alongside Fenergo’s management team to acquire Fenergo, the leading provider of Know-Your-Customer (KYC) and Client Lifecycle Management (CLM) software solutions for financial institutions, from Insight Partners. The acquisition follows a period of strong expansion for Fenergo and will drive investment in the firm’s SaaS strategy, product line development and support an expanding team through the next phase of growth.
Established in 2009, Fenergo’s award winning SaaS platform provides solutions to the world’s largest and most complex financial institutions, helping to fight financial crime and to enhance customer journeys while being compliant every step of the way. Fenergo currently helps top financial institutions including ICBC Standard Bank, Santander, Mizuho, ABN AMRO and BNP Paribas to digitally transform their end-to-end client lifecycle processes. Fenergo’s API-first ecosystem of channels, systems and data providers enables financial institutions to offer a truly frictionless customer experience.
The company operates in a specialised part of the highly regulated financial services sector, with strong potential for continued growth given the increasing importance of digitalisation and compliance. In the financial year ending March 2021, Fenergo’s revenue increased by 17% to USD$107 million.
Financial terms of the transaction were not disclosed.
Advisors involved included:
- for Fenergo: UBS, Willkie Farr & Gallagher, William Fry, and PwC
- for Bridgepoint and Astorg: Credit Suisse, William Blair, Torch Partners, Arma Partners, Paul Hastings, Allen & Overy, Ernst & Young, and GreySpark Partners