Capital and Trust - April 7, 2022 - 0 minute read

Allfunds, one of the world’s leading B2B wealthtech companies for the fund industry, has announced that it will acquire the entire share capital of Web Financial Group.

Web Financial Group is a European financial technology company and provider of software solutions to the wealth management sector, its headquarters is based in Madrid.

Allfunds will acquire Web Financial Group for a total consideration of €145m, suggesting a multiple on revenues of 6.5x. The acquisition will be funded through debt financing and is expected to close in the second quarter of 2022.

Web Financials’ existing client base includes retail banks, wealth managers, investment platforms and private banks. Its’s 100 employees will join Allfunds across 6 European offices, further boosting Allfunds global footprint.

Allfunds’ founder and CEO, Juan Alcaraz said: “At Allfunds, we are fully customer-centric and, with this in mind, we are always looking for growth opportunities that complement and broaden our offering. We wish not only to fulfil our clients’ needs, but to anticipate them; the synergies, technology and talented Web financial team will, no doubt, strengthen our value proposition and help us deliver the world-class service we, at Allfunds, strive to provide.”

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