Nordic Capital Acquires Majority Stake in SaaS Provider Zafin

Nordic Capital has agreed to purchase a majority stake in Zafin, a global leader in Software-as-a-Service (SaaS) solutions for financial institutions. The deal was made in collaboration with Zafin’s founders and management, who will reinvest in the company.

Zafin’s Industry-Leading Innovations

Zafin has been recognized for its innovative approach to modernizing core banking systems. The company’s SaaS platform allows for collaborative design and management of relationship pricing, products, and packages. This includes tailored propositions, and it enables banks to dynamically respond to customer and market demands across their entire system. Ensuring regulatory compliance, transparency, and operational control, the platform offers benefits such as quicker time-to-market, increased revenue opportunities, and reduced costs and operational risks.

Diverse Client Base and Global Reach

Zafin has a diverse global client base, including Wells Fargo, US Bank, HSBC, Truist, ING, CIBC, PNC, and ANZ. The company has been instrumental in driving the modernization and transformation of banks, and future-proofing their technology investments.

Strengthening Zafin’s Position in the Market

Al Karim Somji, CEO of Zafin, views the partnership with Nordic Capital as a game-changer for both the Zafin team and their clients. He believes that with Nordic Capital’s technological expertise and deep market understanding, Zafin will emerge as a global leader in banking technology solutions.

Nordic Capital’s Commitment to IT Modernization

Mohit Agnihotri, Partner at Nordic Capital Advisors, expresses his firm’s admiration for Zafin’s innovative approach to bank IT modernization. Nordic Capital, with over 30 years of experience and a successful track record in aiding the growth of innovative tech firms, is enthusiastic about partnering with Zafin.

The deal is set to close in the first quarter of 2024, subject to standard closing conditions. The financial details of the transaction have not been disclosed.