Engagement — Platform Due Diligence
Code & Co. provides AI & Tech Due Diligence to Birchway Capital ahead of its investment in Festina Finance, a provider of cloud-native modular technology platforms for pensions, life insurance and financial planning.
Festina Finance, a provider of cloud-native modular technology platforms for pensions, life insurance and financial planning, has announced a €25+ million growth investment from Birchway Capital, a UK-based growth equity investor focused on B2B technology, fintech and AI businesses. The transaction values the company at approximately €200 million. The investment will support the next phase of growth for Festina Finance, including continued development of its life and pension platform, expansion of its team and international growth, with the UK identified as a key strategic market.
Scope of work
Code & Co. advised Birchway Capital on AI & Tech Due Diligence through an in-depth evaluation of the Festina Finance platforms, covering their cloud-native modular policy administration and financial planning capabilities, software architecture, and approach to actuarial and accounting calculation integrity.
The assessment further examined the underlying technology stack, deep product expertise across pensions and life insurance, and cybersecurity practices, and concluded with a review of Festina Finance's engineering organization, software development lifecycle, and key considerations for supporting continued product development and international growth.
About Festina Finance
Festina Finance is a proven and trusted technology platform for life, pensions and financial planning. Festina Finance provides large financial institutions with state-of-the-art policy administration and financial planning technology, enabling them to streamline operations, focus on member value, and achieve their strategic objectives. Festina Finance is a Copenhagen-based fintech which develops cutting-edge software systems for financial management, supporting more than 40 customers, anchored by six Tier 1 Dutch pension funds including APG, and backed by a highly experienced team boasting 10 to 30 years of deep industry expertise. Today, Festina Finance employs more than 200 people, and its platforms support systems managing approximately 10 million pension policies and 3 million banking customers across Europe. To learn more, visit festinafinance.com.
About Birchway Capital
Birchway Capital is a London based growth equity firm. The firm is focused on partnering with ambitious founders building category-leading businesses across B2B software, AI and fintech. These companies have achieved product market fit and typically have revenues of between €6-40m. The firm invests tickets of €15-30m in companies across Europe. The firm supports management teams through periods of rapid growth by providing long-term capital, operational expertise, and strategic guidance. Birchway Capital LLP is an appointed representative of Langham Hall Fund Management LLP, an entity which is authorized and regulated by the Financial Conduct Authority of the UK. For more information, visit birchwaycapital.com.