Objectway, a fintech provider of as-a-service software and services to banks, wealth and asset managers, has acquired Nest Wealth, a Canadian provider of digital wealth solutions, for an undisclosed sum.
Established in 2014, Nest Wealth offers digital wealth solutions for onboarding, account opening, and financial planning to financial institutions in Canada.
It includes banks, custodians and asset managers, wealth management firms and individual advisors, as well as direct-to-investor investment management services.
Nest Wealth founder and CEO Randy Cass said: “We are thrilled to join the Objectway Group, an innovative and highly respected company with a proven track record in the industry. This will accelerate our expansion across the North American region, and open up additional market opportunities in EMEA.
“In Objectway, we have found the perfect partner, giving our employees and customers continuity, stability and an exciting future of continuous development to solve their problems.”
Through the acquisition of Nest Wealth, Objectway adds client onboarding and financial planning complementary solutions to its capabilities.
Besides, Objectway will improve its wealth and investment management offering, marketing this to existing and new clients in Canada and the US.
According to Objectway, in EMEA, the acquisition will further expand and enhance the firm’s wealth solutions design model across the value chain to offer best-in-class digital client onboarding and planning solutions.
Objectway founder and group CEO Luigi Marciano said: “This acquisition marks a significant milestone in our growth and global expansion strategy, enabling us to establish and broaden our market presence in North America and to offer an even more comprehensive range of innovative products and services to existing and new customers in both the EMEA and North American regions in which we operate.”
Based in Italy, Objectway offers solutions that are omni-channel and omni-device to support the digital transformation of banks, wealth and investment management businesses.
The firm has built partnerships with banks and wealth and asset management firms to facilitate and scale their business through advanced software and services.
Objectway was advised by Deloitte, Deloitte Legal and Alpeggiani Avvocati Associati, while Nest Wealth was advised by Ascent Line Partners and Wildeboer Dellelce on the transaction.