The platform technology firm Seccl is set to be purchased by Octopus. Seccl, founded by ex-Ascentric head Hugo Thorman in 2017, provides technology and software services to wealth managers using API technology.
The acquisition, which is currently subject to regulatory approval, will be worth £10m if it goes ahead, as well as investment from Octopus into Seccl and the expansion of its staff.
Simon Rogerson, chief executive of Octopus Group, commented: “We are delighted to welcome the Seccl team into Octopus Group. Millions of us use platform technology everyday whether for online banking or managing investments. It determines our user experience and investment costs. But it’s a market crying out for change.
“Seccl’s innovative technology has the potential to completely transform the customer and client experience across retail financial services. The market opportunity is enormous and we are all excited by its potential.”
Gunner & Co. work with Octupus regarding IFA and welath management business purchases. If you would like to know more about their proposition contact louise.jeffreys@gunnerandco.com