Fincite and Harvest join Forces: New European Market Leader in WealthTech Software Emerges

Frankfurt/Paris, 28 February 2024 – Two of Europe’s leading WealthTech software providers are coming together: Harvest from France and Fincite from Germany are forming a strategic alliance. This partnership is supported by private equity investors TA Associates and Montagu. Under the umbrella of the ‘Harvest Group’, both companies plan strategic acquisitions to build a European WealthTech software champion.

Unification of WealthTech pioneers through the creation of a pan-European market leader

Fincite and Harvest develop wealth management software that enables financial institutions to reimagine their services. Their modular B2B software automates the creation of efficient, tailored portfolios – from customer onboarding (KYC/AML) to reporting.

Today, banks are faced with a jumble of standalone and often outdated software systems. We are talking about legacy systems that are 25 years old or more. This leads to a confusing and costly system landscape, often lacking interoperability. Our clients want fewer but stronger partners that provide deeper and better WealthTech solutions from a single source. Together with Harvest, we meet this demand across Europe.

- Ralf Heim, Co-CEO and Founder of Fincite

European Expansion and Strategic Acquisitions

This partnership paves the way for accelerated European expansion with a clear goal: to double the group’s revenue within the next four years. Growth will focus on the core markets of the DACH region and France, as well as the Benelux countries, Italy, and Northern Europe. With this merger, Harvest and Fincite are pursuing strategic acquisitions to expand their product portfolio and geographic presence, better serving their target audiences.

We are witnessing a continuous wave of modernisation at financial institutions. Banks need to offer a seamless digital experience, similar to what has become standard in retail banking. The market demands modular and tailored solutions that integrate effortlessly. Together with Fincite, we are unlocking synergies and taking wealth management to a whole new level. This merger represents an important new step towards creating a strong European group focused on development, innovation, and customer satisfaction. This partnership marks the beginning of something truly significant.

- Virginie Fauvel, CEO of Harvest

Harvest, the 36-year-old FinTech based in Paris, serves more than 4,600 clients.

 Management teams of Fincite and Harvest from left to right: Quentin Michon, Harvest CFO; Virginie Fauvel, Harvest CEO; Sebastian Bessing, Fincite CTO; Ralf Heim, Fincite Founder & Co-CEO; Delphine Asseraf Harvest Deputy CEO; Co-CEO; Paul Kammerer, Fincite CCO & Friedhelm Schmitt, Fincite Founder & Co-CEO

Both brands – Harvest and Fincite – will remain on the market with their teams and locations. As part of the merger, Fincite co-founder Ralf Heim will join the group's board in addition to his role as Co-CEO of Fincite. Together with his two co-founders, Friedhelm A. Schmitt and Stefan Post, as well as the fourth executive, Paul Kammerer (COO), he will continue to run the business.

About Fincite

Fincite is a WealthTech software provider, repeatedly awarded for its growth and innovation (Fintech Germany Award 2024, WealthTech100 2024, ESGFintech100 2024). We address the challenges facing financial institutions in wealth management through intelligent software solutions - from onboarding a client to (hybrid) advisory, order execution, and subsequent reporting. Our clientele includes internationally leading banks, medium-sized financial consultancies, established private banks, and digital challengers. Our team consists of over 60 employees from more than 15 nations. For more information, please visit www.fincite.de

 About HARVEST

HARVEST is a leading FinTech in France for software specializing in wealth and financial professions. The group has been supporting professionals for 35 years with solutions that cover the entire value chain in the wealth and financial sectors. The group develops digital solutions and provides information essential for informed decisions in wealth and finance. As a data specialist, it enables the automated construction of efficient, tailored portfolios. With over 4,600 corporate clients, the group offers a range of software and services that are highly sought after by professionals wanting to develop high-quality advice. For more information, please visit https://www.harvest.eu/