- Acquisition Announcement: UK-based private equity firm Invex Ventures has acquired Manigo, a fintech infrastructure platform, for an undisclosed amount.
- Background on Manigo:
- Founded in 2017 by Stevan Bajic and Olya Parafiyanovich.
- Offers a proprietary core banking platform, API suite, and white-label solutions for businesses to launch cards, accounts, and payment services under their own brand.
- Completed 23 vendor integrations across Europe, Saudi Arabia, and the Americas, including partnerships with 10 banking rails providers and 3 issuing processors.
- Reason for Acquisition: The acquisition aims to strengthen Manigo’s Integration Library and enhance its core banking services, increasing value for its clients.
- Invex Ventures Portfolio: This acquisition marks the sixth addition to Invex’s fintech portfolio, which includes:
- Minted Edge (digital banking platform)
- TrustXPay (payment services provider)
- ReconX (payment reconciliation software)
- Nova Global (financial consultancy)
- Minted Connect (API service)
- Context: The acquisition comes just one month after Manigo entered administration, indicating a strategic move by Invex Ventures to expand its fintech capabilities.
