Dutch private equity firm NPM Capital announced on Thursday it has acquired 35% stake in fintech startup Ohpen. Founded in 2009, Open revealed that its mission is to develop the “best” core banking engine in the world.
“Built by former bankers to administer retail investment and savings accounts, Ohpen liberates banks from their legacy systems and processes. 100% reliable, 100% adaptable, 100% compliant.”
Ohpen also reported it has signed a long-term outsourcing agreement with SNS Bank N.V. Ohpen will deliver their BPO solutions to support the investment propositions of ASN Bank, BLG Wonen, RegioBank, and SNS. Speaking about the stake in Ohpen, Rutger Ruigrok, managing director at NPM Capital, stated:
“The technology sector is becoming an increasingly important area of attention in our investment portfolio. Ohpen has been in our sights for some time and is one of the most promising technology companies we have seen in recent years. We are very impressed with what it says after ten years: a cloud native core banking engine, a wonderful customer base and a wonderful foundation for further growth. We are very excited that we can now be part of their future.”
Matthijs Aler, CEO of Ohpen, went on to add:
“We can still move forward with the growth capital that we raised at the beginning of 2018. With Amerborgh and NPM, we have a balanced long-term shareholder structure with which we want to realize future growth ambitions. I am really looking forward to working with the NPM team.”