NeoXam has announced significant growth following its takeover by Cathay Capital earlier this year.
Since acquisition by Cathay Capital & BPI in May, NeoXam continues to expand globally through strategic expansions in Germany, UK, South Africa, Israel and Morocco and plans to continue its trajectory of investments in innovation and digitalisation.
NeoXam has also just reached 500 employees this month, and has made an acquisition of its own of 100M, a digital reporting fintech to consolidate its digital expertise.
This news comes in the wake of the significant rise in investment activity in fintech this year.
A recent KPMG report shows that investment in fintech firms has sky-rocketed in the second quarter of 2018, with total value exceeding $30bn, following a strong performance at the start of the year when total value hit $25bn. While this level of activity in the sector is exciting, any major period of acquisition activity always raises concerns that the smaller businesses will just be swallowed up or sold for parts. In contrast, NeoXam has been a good example of how acquisitions can greatly boost growth in the fintech sector.
Serge Delpla, CEO of NeoXam said: “The increase in M&A activity in fintech this year is a testament to the growing importance of the sector. Our partnership with Cathay Capital has provided us with the resources needed for NeoXam’s ambitious expansion plans. Our business has definitely benefitted from the Cathay Capital global network, particularly in terms of our progress in regional expansion. Going forward, we will continue to deliver world-leading financial solutions to our customers with the support of Cathay Capital.”