The Stockholm-based private equity firm said the investment in Zafin will help accelerate the banking software company’s growth and product development. The companies are not disclosing the financial details of the deal, said Zafin spokesperson Bhavna Wadhwa, noting the Nordic Capital fund that made the investment typically selects companies with a valuation beyond €300 million. (The Logic)
Skip to content
The Stockholm-based private equity firm said the investment in Zafin will help accelerate the banking software company’s growth and product development. The companies are not disclosing the financial details of the deal, said Zafin spokesperson Bhavna Wadhwa, noting the Nordic Capital fund that made the investment typically selects companies with a valuation beyond €300 million. (The Logic)
Talking point: The deal is expected to close in the first quarter and is subject to closing conditions. A source familiar with the sector told The Globe and Mail that the investment valued Zafin at more than US$500 million. Zafin CEO Al Karim Somji had previously told The Logic he intended to take the company public in 2023, but was waiting for economic conditions to improve. As the IPO market has frozen, M&A activity has increased. Farmers Edge, Q4, Magnet Forensics and MindBeacon have all agreed to be taken private or completed acquisitions in the last two years.
Editor’s note: The name of Zafin’s spokesperson has been updated.
Loading...
Thanks for sharing!
You have shared 5 articles this month and reached the maximum amount of shares available.
CloseThis account has reached its share limit.
If you would like to purchase a sharing license please contact The Logic support at [email protected].
CloseGift the full article!
You have gifted 0 article(s) this month and have 5 remaining.
Recipients will be able to read the full text of the article after submitting their email address. They will not have access to other articles or subscriber benefits.
Most Popular This Week
In-depth, agenda-setting reporting
Great journalism delivered straight to your inbox.
News
Nasdaq’s crackdown tests Canada’s bet on small public companies
Briefing
TC Energy says North American natural gas demand is growing much faster than previously expected
Mississauga imposes data centre pause, as Toronto councillors scrutinize local projects
A third of Canadian workers are using generative AI, but not for everything
Best business newsletter in Canada
Get up to speed in minutes with insights and analysis on the most important stories of the day, every weekday.
Exclusive events
See the bigger picture with reporters and industry experts in subscriber-exclusive events.
Membership in The Logic Council
Membership provides access to our popular Slack channel, participation in subscriber surveys and invitations to exclusive events with our journalists and special guests.
