Festina Finance, a Copenhagen-based FinTech startup that provides cloud-native modular technology platforms for pensions, life insurance and financial planning, has secured over €25 million in growth investment.
The company secured this investment from Birchway Capital, a UK-based growth equity investor focused on B2B technology, FinTech and AI businesses. The transaction values the company at approximately €200 million.
Morten Schantz, Founder of Festina Finance, said, “The pensions and life insurance industry is undergoing a major technology transformation, driven by the need to replace legacy infrastructure with more modern, flexible platforms.
“Our focus at Festina Finance has been on building cloud-native modular systems that allow providers to adapt more quickly, improve operational efficiency and deliver better outcomes for members without ever compromising resilience or control. This investment enables us to accelerate that work and scale our platform across Europe as demand for modern pensions infrastructure continues to grow.”
Founded in 2007, Festina Finance is a system-of-record technology platform for pensions, life insurance and financial planning.
The company states that its cloud-native solutions help pension funds, life insurers, banks, wealth managers and financial advisers modernise critical operations, improve efficiency, and deliver better customer experiences.
The startup’s flagship Life & Pension platform provides modular policy administration capabilities for pension and life insurance providers, while its Advisor platform delivers an API-first advisory workbench for investment professionals.
Kilian Pender, Founding Partner at Birchway Capital, said, “Festina Finance has built a strong platform in a market where many pension providers and life insurers are still reliant on legacy systems. Our discussions with customers confirmed the strength of the technology and the importance of its role in modernising mission-critical operations.
“We see a clear opportunity as providers move away from fragmented, ageing infrastructure towards integrated, cloud-based platforms. The scale of the market opportunity, combined with the quality of the Festina Finance team, means we believe they are strongly positioned to continue as a leading technology partner to pension and life insurance providers across Europe.”
With this capital, the company plans to support the next phase of its growth, including continued development of its life and pension platform, expansion of its team and international growth, with the UK identified as a key strategic market.
Netcompany, a shareholder in Festina Finance, will hold a 22% stake following the investment. The two companies will continue to work closely together, with Festina Finance’s core pension capabilities integrated into AMPLIO Life & Pension and further collaboration delivered through Netcompany Banking Services via Festina Advisor.
Festina Finance’s platforms currently support customers responsible for approximately 10 million pension policies and 3 million banking customers across Europe. The company employs more than 200 people and operates in Denmark, the Netherlands, the UK and Norway.
Source: EU-Startups
