Finnish startup Nomentia is acquired by Inflexion
London-based mid-market private equity firm Inflexion has acquired a majority stake in Nomentia, an Espoo-based SaaS startup. The capital came from Inflexion’s Buyout Fund VI, Silicon Canals reports. The companies do not disclose further details of the deal.
- Founded in 2004, Nomentia offers a modular, cloud-first software for finance and treasury management that helps them deal with bank connectivity, payments, cash visibility, and forecasting, trade finance, risk, and reporting.
- According to the company, it cooperates with over 1,400 blue-chip customers across industries in Europe. The company currently processes more than €1.2 trillion of payments through its bank connections annually.
“Going forward, Nomentia plans to be even better at serving customers in its current markets and new ones by bringing new and innovative features to a growing client base. Management is very excited to partner with Inflexion to accelerate the company’s growth further,”Jukka Sallinen, CEO of Nomentia, comments.
- Inflexion was founded by John Hartz and Simon Turner in 1999. It is a London-based mid-market private equity firm, investing in high growth businesses. The company usually provides capital from £10 million to £200 million for a minority or majority stake.
“Nomentia is a market-leading SaaS business benefitting from a best-in-class offering for its clients. Now is the right time for the business to accelerate its growth across Europe whilst continuing to maintain its high level of customer service. We look forward to supporting Jukka and the team as Nomentia further penetrates the European market both organically and through acquisitions,”Flor Kassai, Partner and Head of Buyout Fund IV, says.
- After the acquisition, the company aims to continue its growth across Europe both organically and through further acquisitions.