Danske Joins Citi, BNP Paribas Investing in Fintech M&A Company [BNN Bloomberg (Canada)]
BNP PARIBAS SPONS ADR (BNPQY)
NASDAQ:AMEX Investor Relations:
invest.bnpparibas.com/en
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Source: BNN Bloomberg
Denmark's largest lender will take a stake in United Fintech Group for an undisclosed sum, the Copenhagen-based Danske said on Tuesday. It will also hold a rotating board seat in the London-based fintech. United Fintech specializes in buying firms with technologies that can be used by the financial industry, and adapt the solutions to its platform to meet the needs of its bank clients. The company has so far acquired five fintechs and counts a number of the world's largest lenders among its customers, including Barclays Plc, Deutsche Bank AG and Morgan Stanley. “The investments will be used to fuel further acquisitions as well as inhouse digital development and innovation on our platform and product portfolio,” Christian Frahm, United Fintech's founder, said by email. Danske will be the third institutional investor in United Fintech after BNP Paribas and Citi entered in February. The Danish lender said the investment aligns with its 2028 strategy plan, which targets an increase
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