Headquartered in Vancouver, Canada, Zafin has workplaces world wide together with in Chennai and Thiruvananthapuram.
Zafin is an business chief recognized for its progressive method to financial institution core modernisation. Zafin serves a various base of consumers together with Wells Fargo, US Financial institution, HSBC, Truist, ING, CIBC, PNC, and ANZ.
The funding is made in shut partnership with Zafin’s founders and administration, who will reinvest within the firm alongside Nordic Capital.
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Zafin’s core SaaS platform extracts product and pricing from a number of core techniques, enabling customers to work collaboratively to design and handle relationship pricing, merchandise, and packages, together with personalised propositions.
The platform permits banks to dynamically reply to altering buyer and market wants throughout their whole financial institution core system footprint, all whereas making certain regulatory compliance, transparency, and operational management.
On account of advantages akin to sooner time to market, elevated income alternatives, decrease working prices and diminished operational dangers, Zafin is recognised as a most popular companion for banks globally.
Nordic Capital has over 30 years of expertise accelerating the expansion of progressive expertise corporations. As a number one specialised expertise investor globally, Nordic Capital has to this point made 29technology investments with an mixture enterprise worth of near Euro24 billion.
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Al Karim Somji, CEO, Zafin, mentioned,“We have now been powering the modernization and transformation of banks and future-proofing their banking expertise investments for years. With Nordic Capital’s scale, expertise experience, and deep market understanding, this partnership permits us to turn out to be a world chief in banking expertise options.”
Mohit Agnihotri, Accomplice Nordic Capital Advisors, mentioned:“Nordic Capital has been a eager observer of financial institution IT modernization efforts and has been extremely impressed with Zafin’s progressive method to serving to its prospects react to a continually altering enterprise panorama. We firmly imagine that Zafin will emerge as a gold customary in financial institution IT modernization efforts. Nordic Capital appears ahead to partnering with Zafin administration on the subsequent part of the corporate’s development, together with leveraging our seasoned inhouse operational staff, deep experience and expansive relationships within the sector.”
The phrases of the transaction weren’t disclosed. Completion of the transaction is anticipated throughout Q1 2024 and is topic to customary closing situations.
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