The Embark Group has sold around 9.1% of its business to fintech firm FNZ and extended its commercial relationship with its technology provider to 2028.
Embark described the extension of its commercial relationship, which means FNZ will provide its platform technology and administration services for an extra five years, as a "natural view point". The firms, which have worked together since 2013, said they agree that providing "providing multi-channel, retirement-centric wrap services in the UK" will be the best proposition for customers in the foreseeable future. Embark said the 9.1% exclusive small rights issue to FNZ, which sees the fintech firm become a shareholder in the group for the first time, was solely a corporate investment ...
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