Nordic Capital snaps up Canadian SaaS fintech Zafin

Nordic Capital has acquired Zafin, a Canada-based provider of SaaS core modernization and transformation solutions for banks and credit unions.
Zafin’s product and pricing platform simplifies and personalizes core modernization for banks, enabling collaborative design and management of pricing, products, and packages.
The acquisition aims to help Zafin’s management team in the next phase of growth, leveraging Nordic Capital’s operational team, expertise, and industry relationships.
The investment is made in close partnership with Zafin’s founders and management, who will reinvest in the company alongside Nordic Capital.
Zafin’s software is designed to provide financial institutions with faster time to market, increased revenue opportunities, lower operating costs, and reduced operational risks.
Nordic Capital highlights its history of investing in SaaS fintechs, having previously backed London-based no-code data automation company Duco in 2021.
Zafin has existing partnerships with global banks, including HSBC, ANZ, ING, Wells Fargo, and more.
The financial details of the acquisition have not been disclosed.