United Fintech has entered the Market Data & RegTech space with the acquisition of German fintech, TTMzero. United Fintech has taken a 25% stake in the market leading firm, with the intention of increasing to 80% over the next three years.
The acquisition is in line with its strategy of acquiring and scaling innovative fintechs in capital markets and creating a fintech one-stop-shop which banks and financial institutions can benefit from to accelerate their transition to a digital world.
Founded in 2013, TTMzero develops fully digitized RegTech and Capital Markets Tech solutions. It has two proprietary products, a financial instruments automation platform to digitize processes and workflows for securities and a real-time data analytics platform to provide real-time data for a large number of financial instruments. These products support financial institutions and capital markets participants in the independent valuation of financial instruments and enable them to comply with regulatory reporting requirements across a wide range of jurisdictions.
TTMzero has a team of 25 technology specialists in Berlin and an impressive client base which includes over 20 large financial institutions, including two of the world’s largest investment banks.
Christian Frahm, Founder and CEO, United Fintech explains, “We are very excited that TTMzero is now part of United Fintech. They are market leaders in their field, with two of the largest investment banks relying on their infrastructure. 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.
“TTMzero currently has a particularly strong presence in Germany, Switzerland and Austria and has huge potential for global growth. We are looking forward to working with the two founders, Sönke Blunck and Simon Ullrich and their team of specialists to scale the business and broaden its global reach.”
Simon Ullrich, Managing Partner and Head of Business Development at TTMzero says, “This is an ideal partnership. Our skillset is very much focused on developing cutting-edge technology for banks and financial institutions. To realise the full potential of our platforms, we welcome support with sales, marketing and distribution. United Fintech has an impressive, experienced team in these areas and a fantastic global distribution network.”
Dr. habil. Sönke Blunck, Managing Partner and Head of Financial Engineering at TTMzero adds, “United Fintech is dynamic and ambitious and we are very proud to be a part of this forward-thinking organisation. We look forward to developing our product roadmap with the United Fintech team so that we can capitalise on growth opportunities and leverage United Fintech’s strong strategic partnerships with leading investment banks.”
United Fintech has appointed two new team members to help with the sales of TTMzero products, along with the sales of products from its first acquisition, NetDania, a leading Danish fintech which provides market data, APIs, market terminals, charting components and full white-labels.
Joshua Green (Senior Sales Manager UK & Ireland) and Emilia Meredith (Sales Manager) both join the firm from Bloomberg LP and will report to United Fintech’s Partner and Head of Sales, Tom Robinson, former Managing Director of Jefferies and Goldman Sachs.
Christian Frahm concludes, “United Fintech is rapidly gathering momentum. We have a high calibre management team in place and have made two excellent acquisitions, with clear synergies between the two firms. We have bolstered our team with the appointment of two exceptionally talented sales people, Joshua and Emilia who bring a wealth of experience from Bloomberg. 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.”
About United Fintech
United Fintech, which launched in November 2020, enables banks and financial institutions to accelerate access to innovative digital technology from a wide range of fintechs specialising in capital markets.
Through a series of acquisitions over the next five years, United Fintech plans to build an extensive portfolio which includes trading platforms, liquidity management and regulatory reporting tools through to AI and machine learning applications, Big Data tools, institutional Blockchain, Bots and Virtual Assistants.
Headquartered in London, United Fintech has a global sales network and regional offices in Copenhagen, New York, Dubai and Singapore. Its management team consists of world-class experts in each aspect of building, growing and scaling capital markets businesses.