Personal fairness agency, AnaCap, has introduced the acquisition of funding expertise platform, Novia Monetary, for an undisclosed sum.

The Novia deal is AnaCap’s third within the UK funding sector since 2019

Novia claims to be the UK’s third largest impartial funding platform. It has a shopper base of 67,000 impartial monetary advisors (IFAs) with a mixed £8.15 billion property underneath administration.

AnaCap’s newest buy marks its third within the UK wealth administration area, after Amber Monetary Investments in July 2020 and Wealthtime in December 2019.

The agency says that throughout its three investments it has acquired virtually £11 billion in property underneath administration.

“We view this […] as a really basic deal in our technique throughout the UK wealth administration platform area,” says AnaCap companion for M&A, Nassim Cherchali.

“The funding means now we have vastly elevated our fund administration and technological capabilities.”

The subsequent steps for Novia are “deliberate investments into distribution and the constructing of in-house asset administration capabilities”.

Invoice Vasilieff, CEO at Novia, says AnaCap has a “robust observe report in rising fintech companies with revolutionary operational methods.”

He provides: “We imagine that AnaCap represents the proper selection to assist us develop and, pending completion, we look ahead to an thrilling new chapter for the corporate in 2021 and past.”

The deal is topic to regulatory approval.

Associated: AnaCap to acquire Wealthtime