Fin-tech firm Asset Vantage buys US-based Financial Navigator

19 April, 2017

Asset Vantage Inc., which runs fin-tech company Asset Vantage, has acquired US-based Financial Navigator, a provider of wealth management software, it said in a statement.

The Mumbai-based firm, which offers cloud-based investment portfolio management software, did not disclose the value of the transaction.

Financial Navigator, a 30-year-old company, provides end-to-end software that enables clients to aggregate data from multiple managers and reporting entities, analyse investment performance and prepare financial statements, among other things.

The acquisition will help Asset Vantage further its expansion into North America’s wealth management software market. The two companies will together have a customer base of over 300 families globally.

“Our goal is to expand the capabilities of the combined entity in order to increase our market share, initially focusing on families in North America with over $25 million in assets, estimated at 200,000 households, and families in India with over $5 million in assets, estimated at 250,000 households,” said Mark Rogozinski, CEO of Asset Vantage North America.

Asset Vantage was founded by Sunil K Dalal, a serial entrepreneur and founder of UniDEL, a multi-asset class family office focussed on early-stage technology investing. It provides services such as asset management, accounting, reconciliation and data aggregation, apart from analytics tools and reporting systems, to high-net-worth individuals and family offices.

“With over 7,000 global family offices and hundreds of thousands of families with more than $25 million in assets, we have just scratched the surface of this tremendous market opportunity,” said Dalal.

New York-based investment bank Silver Lane Advisors LLC advised Asset Vantage on the acquisition.
Besides UniDEL, Asset Vantage also counts Eagle Proprietary Investments Limited among its investors.

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Fin-tech firm Asset Vantage buys US-based Financial Navigator

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