Corsair, a leading private equity firm targeting services, software, and payments investments in financial services, today announced a strategic partnership with Astorg, a global private equity firm, by which Corsair will make a significant minority investment in Xceptor (the “Company”), a global provider of end-to-end, no-code automation software. Through the partnership, which is an extension of Astorg’s previously announced acquisition of Xceptor on March 15, 2021, both firms will join forces to support and accelerate the long-term growth of the Company.
Founded in 2003 and headquartered in the UK, Xceptor is a fast-growing software business operating within the high growth intelligent data automation space, combining a highly scalable, next generation technology platform with deep financial sector domain expertise. The Company employs 160 people across five global offices, and serves a diversified global blue-chip base of banking, financial services, and insurance customers, who utilise the Xceptor no-code platform to re-engineer and automate an unparalleled breadth of end-to-end processes.
Corsair has significant experience investing in and partnering with growing companies to accelerate their goals and help fully realize their potential. The firm will leverage its strong track record of partnering with best-in-class management teams and its extensive, transatlantic financial services network to support Xceptor’s ambitious strategic agenda and drive continued growth as the Company moves into the next phase of its development, in partnership with Astorg.
“We’re delighted to enter this strategic partnership with Astorg and the Xceptor management team, and together we are confident we will be able to leverage our complementary strengths and domain expertise to drive tremendous success for Xceptor,” said Raja Hadji-Touma, Partner at Corsair. “Xceptor is a leader in the rapidly-growing data ingestion and automation sector, another example of Corsair’s thematic focus on software automation, and this transaction marks the third financial services-related software platform investment for our latest flagship fund, Corsair V. We have tracked Xceptor’s successes and impressive growth for several years and are very excited about the prospects for supporting the management team in the next phase of the Company’s development.”
“Having discussed our strategic priorities at length with Andrew and the team over the last few months, we are truly excited to welcome Corsair as a partner. We are convinced that the combination of Astorg and Corsair will help further accelerate Xceptor’s trajectory, particularly in the U.S., which is a priority market. The Corsair team has a great financial services pedigree and deep sector relationships, and we look forward to working closely with them to deliver on our ambitious plan,” said François de Mitry, Managing Partner at Astorg, and Jonas Samlin, Director and Head of European Software at Astorg.
“We’re delighted to welcome Corsair as another strategic partner alongside Astorg, and we are grateful to now have support from two leading institutional investors for Xceptor’s next chapter of growth,” said Andrew Kouloumbrides, CEO of Xceptor. “Corsair brings an extensive network of industry relationships and a strong presence in North America, as well as its unparalleled understanding of the financial services ecosystem, that will help realize our long-term growth ambitions.”
Following the closing of the transaction, Corsair will join the Xceptor board of directors alongside Astorg and management.
Corsair is a global specialist investment firm offering opportunities for investors and solutions for companies across financial & business services and infrastructure. The firm has almost three decades of experience partnering with businesses at the crossroads of technology transformation and financial services complexity and established its complementary infrastructure investment practice in 2015. Corsair has invested $12 billion in capital across its global buyouts and infrastructure platforms since inception.
Astorg is a global private equity firm with over €10 billion of assets under management. Astorg works with entrepreneurs and management teams to acquire market leading global companies headquartered in Europe or the US, providing them with the strategic guidance, governance, and capital they need to achieve their growth goals. Astorg enjoys a distinct entrepreneurial culture, a long-term shareholder perspective, and a lean decision-making body. Astorg has valuable industry expertise in software, healthcare, business-to-business professional services, and technology-based industrial companies. Astorg has offices in London, Paris, New York, Frankfurt, Milan, and Luxembourg.
For further information about Astorg, please visit: www.astorg.com.
Xceptor is a leading provider of no-code intelligent data automation software, primarily serving large financial services clients. The Xceptor platform delivers a broad range of capabilities, including data ingestion, data transformation, and process digitisation supported by specialist financial services knowledge, with the power to automate even the most complex processes, end-to-end, with a single platform. Headquartered in London, Xceptor was recently recognised as one of the ‘Financial Times 1000 fastest growing companies in Europe, 2021’ for the second year running. For further information about Xceptor, please visit: www.xceptor.com.