Allfunds enters an agreement to acquire Web Financial Group

5 April 2022 – Allfunds, one of the world’s leading B2B WealthTech platforms for the fund industry, today announces that it has entered into an agreement to acquire the entire share capital of Web Financial Group, S.A. (‘WebFG’), a European financial technology company and provider of software solutions to the wealth management sector.

  • The acquisition will significantly enhance Allfunds’ customer proposition in digital & software solutions by gaining multi-asset and data capabilities
  • Allfunds strengthens its footprint in key markets where it already has strong positions: France, Germany, Spain, Sweden, Switzerland and the UK
  • Allfunds will acquire WebFG for a total consideration of €145m, implying a multiple on revenues1 of 6.5x. The transaction will be funded through debt financing
  • The deal is expected to close during Q2 2022

Headquartered in Madrid, WebFG provides bespoke digital solutions for the wealth management industry by harnessing sophisticated data management, cutting-edge technology, and industry leading expertise refined over 20 years. This technology will complement Allfunds’ already strong digital offering including data & analytics which continue to bring efficiencies to the fund distribution ecosystem.

Allfunds will reinforce its platform with stronger functionalities in multi-asset capacities and new features in multi-data connectivity. With the integration of WebFG’s technology, Allfunds will further bolster its tailor-made solutions available for the wealth management industry and progress towards an even more streamlined, efficient fund distribution ecosystem. Allfunds will approach strategically the combined service offering and scalability for WebFG’s existing client base, which includes retail banks, wealth managers, investment platforms and private banks.

As part of this investment, Allfunds will look to onboard the c.100 employees of WebFG which are located across six offices in Europe, further boosting its global footprint in key markets such as France, Germany, Spain, Sweden, Switzerland and the UK.

The addition of the WebFG team will strengthen Allfunds’ digital expertise, further support its global infrastructure and enhance Allfunds’ position as a leader in innovative WealthTech solutions.


Juan Alcaraz, Allfunds’ founder and CEO, said: “At Allfunds, we are fully customer-centric and, with this in mind, we are always looking for growth opportunities that complement and broaden our offering. We wish not only to fulfill our clients’ needs, but to anticipate them; the synergies, technology and talented WebFG team will, no doubt, strengthen our value proposition and help us deliver the world-class service we, at Allfunds, strive to provide.”


Julio Bueso, WebFG’s founder and CEO added: “It is exciting to become a part of the Allfunds business and I look forward to working together towards becoming an even stronger WealthTech champion. Our combined experience, expertise and synergies will reinforce Allfunds’ technology, delivery and ultimately, service offering as a whole.”

The transaction perimeter excludes the media business, which was carved-out in August 2021.

The transaction, which is subject to customary closing conditions, including if applicable, FDI screening approvals, will aim to close during Q2 2022.

1 Based on WebFG´s unaudited revenues for 2021


For further information please contact

Allfunds Media Relations

Katherine Sloan
Global Head of Marketing & Comms
Tel: +34 691 369 407
katherine.sloan@allfunds.com

Allfunds Investor Relations

Silvia Rios
Global Head of Investor Relations
+34 91 274 64 00
investors@allfunds.com


Important Legal Information

This announcement contains inside information as defined in Article 7 of the Market Abuse Regulation (EU) No. 596/2014 and has been authorised for release by Marta Oñoro, General Counsel.


About Allfunds

Allfunds (AMS:ALLFG) is one of the leading B2B WealthTech platforms for the fund industry, offering fully integrated solutions for both Fund Houses and Distributors. Allfunds has built and continues to evolve an ecosystem that covers the entire fund distribution value chain and investment cycle, with solutions including dealing and execution, data and analytics tools, RegTech, ESG screening, and portfolio monitoring. It remains the sole fully integrated one-stop-shop in the industry.

Founded in Madrid in 2000, Allfunds now spans 16 offices around the globe* covering all major financial markets*. Today it has assets under administration of nearly €1.5 trillion, operations in 62 countries, has over 2,000 fund groups available and works with over 830 distributors.

Allfunds entered Euronext Amsterdam as a listed company on April 23rd, 2021.

*Bogotá | Dubai | Hong Kong | London  I Luxembourg | Madrid |  Miami | Milan | Paris | Santiago | São Paulo | Singapore | Stockholm | Valencia | Warsaw | Zurich

All figures as of 31.12.2021. For additional information, please visit Allfunds website at www.allfunds.com


About Web Financial Group

WebFG is one of the world’s leading independent providers of digital transformation solutions to the financial industry, backed by Bridgepoint Group Plc and Deutsche Balaton AG. Born from innovation, WebFG’s forward-thinking digital approach enables the financial services industry to realize the true power of digital transformation and stay ahead of the competition. The company’s focus and ingenuity means the delivery of a real business advantage for financial institutions, investors and media partners around the world. The company currently has offices in Spain (Madrid), UK (London), Switzerland (Zurich), Germany (Frankfurt), France (Paris) and Sweden (Stockholm).