FullCircl Acquired by nCino in Digital Banking Expansion
Deal News | Oct 31, 2024 | Augmentum Capital LLP
Augmentum Capital LLP, a private equity firm, has announced the acquisition of its portfolio company FullCircl by nCino, a digital banking platform listed on NASDAQ. Augmentum initially invested in Justin Fitzpatrick's company DueDil in 2018, supporting its transformation through a merger with Artesian Solutions, which eventually led to the creation of FullCircl. The acquisition marks a significant milestone for FullCircl as it becomes part of nCino's strategy to enhance its digital banking services. Augmentum expresses its gratitude and best wishes to the FullCircl team for their future endeavors with nCino.
Sectors
- Private Equity
- Digital Banking
- Mergers and Acquisitions
Geography
- United States – nCino is a U.S.-based company, listed on NASDAQ.
- United Kingdom – Augmentum Capital and its portfolio company FullCircl are based in the UK.
Industry
- Private Equity – Involves the investment activities of Augmentum Capital LLP.
- Digital Banking – nCino is a digital banking platform, and FullCircl's services are aligned with this sector.
- Mergers and Acquisitions – The acquisition involves a merger and restructuring phase as FullCircl is absorbed by nCino.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| FullCircl | Target company | Company | A portfolio company of Augmentum Capital, formed through the merger of DueDil and Artesian Solutions. |
| nCino | Buyer | Company | A U.S.-based digital banking platform, listed on NASDAQ. |
| Augmentum Capital LLP | Private Equity Firm | Company | The private equity firm that initially invested in DueDil and supported the formation of FullCircl. |
| Justin Fitzpatrick | Person associated with the formation of FullCircl | Person | Originally part of DueDil, involved in the formation of FullCircl. |