United Fintech is an outfit that is dedicated to acquiring a stable of capital markets fintechs. The firm has now acquired a 25% stake in FairXchange, a trading analytics outfit, with a future intention of gaining full ownership.
Trading companies utilize FairXchange’s analytical tools to support data-driven conversations with other counterparties, which brings transparency and clarity to execution performance via the provision of independent data.
The financial terms of this deal were not disclosed. But, United Fintech believes that it is the first transaction in a multi-stage acquisition that is targeting full ownership. Launched in 2021, United Fintech has now set its sights on acquiring a slate of capital markets fintechs and enabling them to sell its services and products to the big financial institutions in the world.
The firm boasts that it is now working to save big banks for Big Tech“, providing them with a one-stop-shop for technological innovations. With over 100 employees working from New York, Romania, Copenhagen, Berlin, and London, the company has already made three acquisitions. FairXchange joined Danish fintech NetDania and German firm TTMzero.
The CEO of United Fintech, Christian Frahm, said:
“The next 10 years is all about speed for the banks. And they no longer have the luxury to do it by themselves. Banks need partners.
“United Fintech unites founders of the most innovative fintech businesses globally and brings them to the big banks under one central umbrella – an innovation platform where banks feel comfortable taking a risk on new products; so that they can faster and more seamlessly onboard new technology. And the acquisition of FairXchange is a great example of doing exactly that.”