Data Science Investment Counter —Funding raised by UK data science companies in 2018.
£ 5.640 Million

Financial Automation Company Deaflo Acquired for £41M

London-based financial automation company Deaflo has been acquired by US digital identity firm OneSpan, in a £41 million deal.

The acquisition comes after  Deaflo raising a £10 million Series B round spearheaded by venture capital firm Holtzbrinck Ventures, and also backed  by funds Notion Capital and Frog Capital, in February last year.

“The entire Dealflo team is thrilled that we are joining a leader in the financial services segment that can accelerate growth of our solution and expand into new regions where OneSpan is very well-established,” Dealflo founder and CEO Abe Smith said in a statement.

“We have a deep history with OneSpan Sign and look forward to working together and expanding our integration into OneSpan’s powerful and innovative Trusted Identity platform,” he added.

OneSpan CEO Scott Clements  also commented on the deal, saying that the acquisition will aid his business grow its subscription revenue.

“Dealflo’s technology will be a major differentiator for our eSignLive solution,” he said.

“In addition, Dealflo’s identity verification capabilities will allow us to accelerate the launch of our TID platform based onboarding, identity and anti-fraud solutions,” he added.

Image via bit.ly/2Lg8bEC

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