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May 31, 2018updated 07 Jun 2018 10:30am

Leasing and motor finance tech firm Dealflo bought for £41m

Dealflo, a provider of identity verification and end-to-end financial agreement automation to motor finance and leasing markets, was bought by US firm OneSpan for £41m (€46.76m).

By Brian Cantwell

Dealflo, a tech vendor serving motor finance and leasing markets in the UK, was bought by US firm OneSpan for £41m (€46.76m).

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OneSpan, formerly Vasco Data Security, works in digital identity security, transaction security, and business productivity.

Dealflo sells workflow management systems which automate customer interactions throughout a lease.

OneSpan said that it bought Dealflo, as it had achieved significant success in providing platforms to the consumer motor finance and asset financing sectors in the UK.

Dealflo is headquartered in London with its development centre in Montreal, the home of OneSpan’s largest development centre.  The two firms have integrated into each others platforms and share a customer base, including leading financial institutions and organizations such as BMW, Santander, BNP Paribas and Mercedes Benz.

“The combination of two leading providers of solutions for agreement automation creates a strong offering for customer onboarding,” said Aite Group’s Retail Banking and Payments Research director, Julie Conroy. “Financial institutions in particular have a growing demand for onboarding automation solutions and coming from OneSpan, a leading provider in the financial services industry, this will make for a very compelling offering in the market.”

“This acquisition will enable us to grow our subscription revenue and Dealflo’s technology will be a major differentiator for our eSignLive solution,” said Vasco chief executive, Scott Clements. “In addition, Dealflo’s identity verification capabilities will allow us to accelerate the launch of our TID platform based onboarding, identity and anti-fraud solutions.”

“The entire Dealflo team is thrilled that we are joining a leader in the financial services segment that can accelerate growth of our solution and expand into new regions where OneSpan is very well-established,” stated Dealflo founder and chief executive, Abe Smith. “We have a deep history with OneSpan Sign and look forward to working together and expanding our integration into OneSpan’s powerful and innovative Trusted Identity platform.”

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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