NovitasFTCL advised the shareholders of acarda on their sale to lpa,
the group backed by Motive Partners

This European transaction sees acarda join Modelity, AAACell and Effcom as part of the lpa Group and further broadens their range of services to include regulatory reporting, data management and automation to the growing asset management sector.

Founded in 2006, the Frankfurt and Luxembourg based acarda is a RegTech specialist solution provider mandated by more than 40 asset managers, fund administrators, insurance companies and banks throughout Europe whose proprietary cloud-based platform, arep, automates the entire reporting process irrespective of the IT systems on which their client operates. Arep supports both European reports and data templates, such as AIFMD, Solvency II, PRIIPS/MiFID II and CRR, as well as country-specific reports such as those for BaFin, CSSF, FCA and BVI.

The multi-award winning Frankfurt based lpa Group is one of the world’s leading consultants and developers of technology-based capital market solutions for banks, insurance companies and fund providers. The core business of the group is the CapTech suite, a portfolio of leading technology solutions for automated consultancy, sales and documentation for financial instruments, structured products and OTC derivatives. lpa employs more than 400 developers and staff in 10 offices in New York, Tel Aviv, Singapore and throughout Europe.

Motive Partners are a New York and London based private equity investor that specialises in financial technology. Their investments include the data and analytics business Dun & Bradstreet, core banking software provider Avaloq, digitalization service provider Finantix among others in the FinTech industry.

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