Holtzbrinck et al. divest Dealflo to Vasco in £41m deal

Since first receiving backing from institutional fund managers, Dealflo has invested in product development and expanded its international sales activity. It has secured contracts with Santander, Societe Generale, Ford Credit Europe and Fiat Chrysler Automobiles, among others.

Under its new owners, the company will look to undertake international expansion.

Previous funding
Notion led a £2m series-A round for Dealflo (at the time known as IOCS) in June 2014, alongside a group of fintech-focused angel investors.

Holtzbrinck then led a £10m investment round for the company in March 2017, with existing backers Notion and Frog also taking part in the round.

Company
London-headquartered Dealflo is a provider of digital documentation software and related products. Its platform combines identity verification processes and financial agreements, which are primarily used in the consumer and asset financing sectors. The business has an additional development centre in Montreal.

Dealflo has partnership agreements with Equifax, Iovation, Mitek, GB Group and OneSpan Sign.

People
Dealflo – Abe Smith (founder, CEO).
Vasco Data Security – Scott Clements (CEO).

Advisers
Company – Alantra, Jamie Hope (corporate finance).

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• Holtzbrinck Ventures
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• Trade sale