(Founding) shareholders have sold Davinci to Ohpen, a portfolio company of NPM Capital
Headquartered in Amsterdam, the Netherlands, Davinci has developed the first cloud-native end-to-end mortgage and consumer lending software engine (CLOSE) in the Netherlands and Belgium, trusted by leading financial services customers to automate their back-office and mid-office operations in loan origination, servicing and credit management. Davinci services its customers through an integrated solution comprising CLOSE and extensive services along the lifecycle of the usage of the CLOSE engine. The company employs more than 200 highly trained professionals in offices in Amsterdam (the Netherlands), Antwerp (Belgium), Bratislava and Žilina (Slovakia).
With the acquisition, Ohpen, a portfolio company of NPM Capital, creates the only cloud-native core banking engine able to service a full suite of banking products – across savings, investments, loans, mortgages and current accounts. The new entity will have a combined headcount of 350, $35 million of revenue and more than $100 billion assets under management, making it the most serious challenger to legacy technology providers in the financial services sector.
The sale of Davinci further expands Lincoln International’s extensive global track record in selling high quality software businesses. Since the emergence of the COVID-19 pandemic, Lincoln has completed 11 transactions with software businesses globally, including for some of the most reputable investors in the industry. It also marks Lincoln’s second high profile software transaction in Benelux, the first being the sale SiPM, in a number of months.
Martijn Koops, Managing Director at Lincoln International, commented, “It’s been a real pleasure to work with the entrepreneurial team of Davinci and create this unique and highly complementary combination. Whilst market conditions have been unprecedented in the past months, we continue to see strong demand for high quality businesses like Davinci.”
Lincoln International acted as the exclusive financial advisor to the (founding) shareholders of Davinci. Terms of the agreement were not disclosed.
We are impressed by Lincoln’s deep software expertise, which was instrumental in getting Davinci’s unique story across and realizing a great result. This outcome creates a unique Fintech SaaS platform with significant international growth potential.
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