United Fintech, the venture launched by Christian Frahm last November, has acquired a 25 percent stake in German fintech, TTMzero with additional plans of increasing the control in the startup to 80 percent over the next three years.
TTMzero was founded in 2013 and offers digitized regtech and capital markets tech solutions. It targets the financial institutions and capital market participants with two products, one is a financial instruments automation platform and another is a real-time data analytics platform.
“We are very excited that TTMzero is now part of United Fintech,” Frahm said in a statement. “The acquisition is a key milestone in our quest to help banks to digitize their operations and facilitate the implementation of innovative, cost-saving capital markets products.”
Scaling Fintech Startups
United Fintech’s initial ambition of acquiring small and mid-sized startups to scale them up. TTMzero is the second addition to its portfolio after the acquisition of Danish fintech, NetDania earlier.
TTMzero has a strong presence across Germany, Switzerland and Austria. United Fintech is now aiming to scale its business and global reach.
“Our skillset is very much focused on developing cutting-edge technology for banks and financial institutions,” TTMzero’s Managing Partner and Head of Business Development, Simon Ullrich, said. “To realize the full potential of our platforms, we welcome support with sales, marketing and distribution.”
“We look forward to developing our product roadmap with the United Fintech team so that we can capitalize on growth opportunities and leverage United Fintech’s strong strategic partnerships with leading investment banks,” Sönke Blunck, Managing Partner and Head of Financial Engineering at TTMzero, said.
Expanding the team
Apart from the TTMzero acquisition, United Fintech additionally announced that it has added two new members to its team, Joshua Green and Emilia Meredith.
Green has taken over as the senior sales manager of the UK and Ireland, while Meredith holds the position of a sales manager. Both have joined the company from Bloomberg LP.
Furthermore, last month United Fintech onboarded former CFH Group CEO, Marc Levin as a Partner and Chief Operating Officer (COO).
“United Fintech is rapidly gathering momentum,” Frahm added. “It has only been a few months since our launch but we now have a team of 75 people and a number of market-leading products for banks and financial institutions seeking easy access to innovative capital markets solutions.”