Deloitte Legal has advised PortfoLion Capital Partners on financing the merger of Hungarian W.UP and the Czech-based Banking Software Company, forming a new company called Finshape.
According to W.UP, “the new entity is the first digital banking solution provider combining low-code platform development expertise with data-driven personalization to catalyze the digital transformation of banks in the post-pandemic economy. Backed by PortfoLion Capital Partners, one of CEE’s leading venture capital and private equity firms, Finshape is the first step in a series of expansions planned across Europe, the APAC, and MENA regions.”
According to the company, “from the start, the 650-strong team of Finshape will serve over 100 clients on four continents, including Raiffeisen, BNP Paribas, Erste, Societe Generale, and Alfa-Bank. The company will be co-led by Petr Koutny, CEO of BSC, and Jozsef Nyiri, CEO of W.UP. The two CEOs share over 40 years of fintech expertise ... The deal will see Jeno Nieder, PortfoLion’s deputy CEO, join the post-merger entity as chairman.”
Deloitte Legal did not reply to our inquiry on the matter.