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Baker Hill is being acquired by non-public fairness agency Flexpoint Ford.
Monetary phrases of the deal weren’t disclosed.
Firm President and CEO John M. Deignan will proceed to steer the enterprise.
Lending-as-a-Service supplier Baker Hill has agreed to be acquired by non-public fairness agency Flexpoint Ford. Riverside-owned Baker Hill has not launched monetary phrases of the deal, which is anticipated to shut upon the receipt of regulatory approvals.
Baker Hill will faucet into the Flexpoint workforce’s expertise and fintech information and can have the ability to leverage the non-public fairness agency’s capital to fund product developments and acquisitions. The Indiana-based firm may even have the ability to profit from Flexpoint’s perception into the wants of financial institution and credit score union shoppers. As Vilas Nair, Flexpoint Principal defined, the agency can “help Baker Hill’s mission of serving to banks and credit score unions foster extra worthwhile relationships with their clients and drive financial improvement of their communities.”
“Baker Hill has a long-standing repute for being a trusted supplier of differentiated mortgage origination and threat administration software program, which has helped gasoline our constant progress every year. This ongoing market validation is a supply of inspiration for our workforce and by partnering with Flexpoint we will proceed to raise the lending expertise for our financial institution and credit score union shoppers,” stated Baker Hill President and CEO John M. Deignan. “Our workforce is assured this partnership will present new alternatives to ship extra worth for our shoppers and the communities they serve.”
Deignan, together with the corporate’s current management workforce, will proceed to steer the enterprise and stay shareholders.
With $7.5 billion of regulatory property underneath administration, Flexpoint Ford’s portfolio is comprised of firms within the monetary companies and healthcare industries. The agency has invested in additional than 40 firms since 2005.
Based in 1983, Baker Hill presents banks and credit score unions a SaaS resolution for industrial, small enterprise, and shopper mortgage origination, in addition to threat administration instruments. The corporate, which most lately demoed at FinovateFall 2021, has acquired quite a few awards in recent times. The IndyStar chosen it as a prime office in Central Indiana, Aite-Novarica acknowledged Baker Hill NextGen as greatest at school product, and, most lately, the corporate acquired a Product Innovation of the 12 months Mira Award nomination.
Picture by Sora Shimazaki
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