Posted on July 23, 2018 by staff

FinTech giant FNZ ‘considering £2bn sale’


Financial services technology provider FNZ Group is reportedly considering a £2 billion sale.

City sources told Sky News that FNZ Group is in the process of appointing investment bankers to advise on a sale of a majority stake in the company.

Insiders said FNZ would be valued in any deal at between £1 billion and £2 billion.

Founded in New Zealand in 2004, the London-headquartered company provides the tech platforms used by wealth management companies and counts the likes of Aviva, HSBC and Barclays among its customers.

The sale will see FNZ’s two private equity backers – General Atlantic and HIG Europe – sell their shareholdings.

The process is expected to kick off before the end of the year.