On Tuesday, Fintel announced the acquisitions of Owen James Events and Synaptic Sofware. The London-based fintech company has been continuing its effort to consolidate a “fragmented market”, as well as enhance its scale and product offerings. Fintel has posted adjusted earnings-before-tax of £20.5m for fiscal 2023, a 6% rise year-over-year.
Fintel acquires Owen James Events and Synaptic Software
A flurry of important updates began with the closure of a £3.5m deal for Synaptic Software. The acquisition was announced in early December and has been pending FCA approval. Now the green light has been given. The deal is quite a coup for Fintel as Synaptic already serves thousands of financial advisers with its compliance software suite.
The deal for Owen James Events cost £2.3m and will see the newly acquired company operate within the Fintel IQ brand. Owen James Events is renowned for its popular strategic events. These include ‘WealthTech Matters’ and ‘Meeting of Minds’. The company will now flesh out its services and attempt to engage a target audience of wealth managers, mortgage brokers, and advice forms.
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More acquisitions are on the cards for Fintel as it taps into a sizeable £69m war chest which has come from the company’s credit facility. recovery in the mortgage market will also buoy the company’s revenue prospects. Joint chief executive officer Matt Timms says the sixth acquisition in twelve months has vastly increased its scale and supercharged its strategic progress.
He concluded:
We have demonstrated continued evidence of our capacity and ability to drive organic growth, source and execute complementary acquisitions, and invest in our technology and data propositions.
