15 September 2021
("Fintel", the "Company" or the "Business")
Asset Disposal and Strategic Partnership with Tatton Asset Management
Fintel (AIM: FNTL), the leading provider of fintech and support services to the
Fintel will provide its market-leading fintech, Defaqto Engage, to up to 2,500 Tatton and Paradigm customers in a 5-year SaaS enterprise partnership generating a minimum revenue of
Fintel will also embed its Managed Distribution Service into Tatton's distribution platform, generating additional revenue as the partnership grows.
As part of the strategic partnership Fintel has sold its fund management business, Verbatim1, to Tatton for up to
The overall transaction will be earnings neutral in 2021 and earnings enhancing thereafter.
Matt Timmins, Joint CEO of Fintel, said:
"We are excited to announce our first major strategic partnership as Fintel with Tatton Asset Management. The partnership will expand our fintech customer reach by up to 30% and significantly extend our Managed Distribution Service.
"The partnership provides a fantastic foundation to further grow our SaaS revenues, delivering market-leading solutions which enable advisers to provide fully compliant advice more profitably.
"We have admired Tatton's record of delivering investment returns for advisers and growth in their AUM and we are delighted to be working together in partnership.
Fintel intends to publish its interim results for the six months ended 30 June 2021 on 21 September 2021.
1 Verbatim consists of c.
For further information please contact:
Fintel plc via Instinctif Partners
Matt Timmins (Joint Chief Executive Officer)
Neil Stevens (Joint Chief Executive Officer)
Zeus Capital (Nominated Adviser and Joint Broker) +44 (0) 20 3829 5000
Investec Bank (Joint Broker) +44 (0) 20 7597 5095
Instinctif Partners (Financial PR) +44 (0) 20 7427 1446
Mark Walter firstname.lastname@example.org