InvestCloud acquires Nutmeg provider Babel

$20m (£16.44m) deal

Tom Ellis
clock • 1 min read

California-based Fintech firm InvestCloud has acquired Babel Systems, a provider to the robo-adviser Nutmeg, in a $20m (£16.44m) deal.

InvestCloud, known for its Programs Writing Programs technology, provides wealth managers with client portals, mobility and adviser portals. The firm also enables allocators and managers of multi-asset class, multi-strategy portfolios with "powerful and robust tools" for data aggregation, performance analytics and operational efficiencies  The firm described Babel as the "most modern trade and account platform in the market". InvestCloud has more than 660 clients with accounting needs that are currently served by last-century legacy accounting systems. InvestCloud said this latest acq...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Companies

Hoxton Capital AUM tops £1.3bn with double IFA acquisition

Hoxton Capital AUM tops £1.3bn with double IFA acquisition

Dudley and Guildford-based IFAs purchased

Isabel Baxter
clock 17 April 2024 • 1 min read
Tatton sees AUM reach £17.6bn as advice firm numbers grow

Tatton sees AUM reach £17.6bn as advice firm numbers grow

Discretionary fund manager records net flow increase of 28% to £2.3bn

Isabel Baxter
clock 16 April 2024 • 2 min read
New online platform launches for care-related advice

New online platform launches for care-related advice

To meet Consumer Duty and vulnerability regulatory expectations

Isabel Baxter
clock 16 April 2024 • 2 min read