PE Today: Private Equity Investors Fuel Financial Software Growth
Investments target software designed for business taxes, banks, and alternative asset managers
Read the top headlines from Thursday, April 7, 2022 below:
BV Acquires Majority Stake in Tax Software Business Source Advisors
BV Investment Partners, a private equity firm targeting tech-enabled middle-market businesses, announced in a press release on Thursday (April 7) that it made a majority investment in tax solutions and software provider Source Advisors. The company provides its solutions to small and medium-sized businesses across industries and geographies. In a statement, BV managing director Jason Kustka pointed to growing demand for such tax solutions, and highlighted the company’s growing network of CPA partner firms.
Trinamic Taps Blue River to Advise on Bank Software Sale to HC3
HC3, a company that provides financial institutions with digitization and document solutions, has closed the acquisition of Trinamic, LLC and its subsidiaries, with Blue River Financial Group advising Trinamic on the sale, a press release said. Trinamic, along with its subsidiaries AutoMail, which provides digital document and statement solutions to financial institutions and other businesses, and Document Output Center, which outsources document printing and mailing for banks, expands HC3’s client base as well as its software offering. Financial terms of the acquisition were not disclosed.
Related content: The Disruptive Power of Fintech and Software
Ambina Places Series A Investment in Investor Portal InverstorFlow
Private equity firm Ambina Partners, which targets the middle market, has provided a $30 million Series A investment in cloud-based investor portal InvestorFlow, a platform for alternative asset managers across private equity, investment banking and more. In addition to the latest funding, InvestorFlow also revealed its acquisition of Cloud Theory, a cloud-based customer relationship management platform for alternative asset managers and investment banks. The combined entity will be called InvestorFlow led by current CEO and founder Todd Glasson, and will wield Ambina’s latest funding to accelerate growth.
