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HomeBankingFintel acquires an initial 70% stake in UK start-up ifaDASH

Fintel acquires an initial 70% stake in UK start-up ifaDASH

Date:

  • UK-based Fintel, a provider of fintech and support services for the retail financial services industry, has acquired a 70% stake in fintech start-up ifaDASH.
  • The acquisition is valued at £500,000 initially, with the potential for up to £1 million in additional contingent cash consideration based on ifaDASH meeting specified profitability and revenue targets over the next year.
  • Fintel also has a two-year option to purchase the remaining 30% stake in ifaDASH for an agreed multiple of EBITDA.
  • The acquisition was made through Fintel’s technology and knowledge platform, Fintel IQ.
  • ifaDASH offers a tech solution that integrates front and back-office CRM data, along with details of vulnerable clients, onto a unified platform to help firms monitor, control, and grow their business while ensuring compliance.
  • The acquisition supports Fintel’s strategy to strengthen its CRM capabilities, following its recent investment in CRM entrant Planner.
  • Additionally, Fintel has announced a new £1.5 million distribution agreement and investment in Mortgage Brain, a mortgage technology firm, allowing Fintel’s clients access to Mortgage Brain’s mortgage sourcing and submission software through Fintel’s platform.
  • Fintel has been actively acquiring fintech companies, with previous acquisitions including VouchedFor and AKG in November 2023 for a total of £9.1 million.

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