Earlier this week, Apex Fintech Solutions Inc. finalized an agreement to purchase FinTron, a fintech startup that produces high-end digital products for the wealth management industry.
Dallas-based Apex, which specializes in providing digital custody and clearing platforms in the financial space, secured the acquisition on Oct. 15. The addition of FinTron will complement Apex’s existing focus on producing a range of infrastructure services in the finance industry.
The terms of the deal have not been disclosed, and it remains subject to approval by the Financial Industry Regulation Authority (FINRA).
“Create new investor experiences and expand market access. Level up with modern custodial infrastructure and services like real-time onboarding. Deliver dependable and transparent tax data all year round,” reads a description of Apex’s solutions on its website.
Apex says it will integrate FinTron’s customizable and embedded solutions into its existing infrastructure. As a result, Apex’s clients will be able to customize brokerage platform interfaces, such as integrating logos, brand colors, and specific typography into the application.
“FinTron has revolutionized the process of launching a brokerage or wealth management platform … Their innovative platform aligns perfectly with our mission to empower the next generation of investors through technology. This acquisition is a significant step in our journey to provide a fully integrated, digital-first platform that meets the diverse needs of our clients,” said Apex CEO Bill Capuzzi, per Finovate.
FinTron CEO and Founder Wilder Rumpf echoed Capuzzi’s sentiment.
“We are thrilled to join forces with Apex … Our shared vision of democratizing financial services and providing intuitive, powerful tools to investors will only be strengthened through this partnership. Together, we can make a significant impact on the financial futures of many,” he said.
FinTron is headquartered in Stamford, Connecticut. It was founded in 2017 and has raised over $14 million in funding from investors over its lifetime.
Apex, which has roughly 200 employees based in Dallas, will see a portion of FinTron’s team migrate to the city. The remaining FinTron staff will remain in New York.