Fintech group Fintel completes £14.6m deal to acquire Manchester's threesixty

Coreena Ford

3 July 2024 at 4:03 am·2-min read

Fintel's HQ. — -Credit: (Image: Supplied by Ally Bayne of MHP Group. Ally.Bayne@mhpgroup.com)

Yorkshire fintech firm Fintel has completed the acquisition of Manchester business Threesixty Services Limited in a £14.6m deal.

Huddersfield based Fintel, which provides technical and support services to the UK retail financial services sector, said the acquisition of the compliance and business support services firm – which trades as threesixty – will further strengthen its range of services available to professional intermediaries, and complementing its current offerings of SimplyBiz, Compliance First, and SIFA.

Meanwhile threesixty clients now will directly benefit from access to Fintel’s extensive technology and service platform. Fintel has acquired 100% of the issued share capital in threesixty for a gross upfront cash consideration of £14.6m, funded from its existing financial resources.

The business serves over 900 independent financial adviser and discretionary fund management firms and 10,000 advisers, and had external revenues of £6.5m last year. The transaction marks the eighth business acquired by Fintel over the past twelve months, joining AKG, VouchedFor, Competent Adviser, Micap, Synaptic, Owen James, and ifaDASH.

Neil Stevens, joint CEO of Fintel, said: “We are delighted to welcome the very talented team and prestigious client base of threesixty to the Fintel family. With a shared commitment to promoting the value of professional financial advice, we believe this deal will further expand the choice of quality services in this vital sector.

"We are confident we can further enhance services for threesixty clients with joint investment in technology and will explore opportunities to make the benefits of our wider technology and data platform available over time. Our intention is to grow the strong brand and quality services of threesixty with the full support of the existing leadership, who will remain with the business to see it develop in the future”.

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Fintech group Fintel completes £14.6m deal to acquire Manchester's threesixty

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