PureFacts Announces Majority Investment from GrowthCurve Capital to Accelerate Growth
TORONTO–(BUSINESS WIRE)–PureFacts Financial Solutions (“PureFacts”), an award-winning SaaS provider of end-to-end revenue management solutions for the investment industry, announced today the completion of a majority investment from GrowthCurve Capital (“GrowthCurve”). PureFacts founder and CEO Robert Madej and the company’s employees will retain their interest in PureFacts. “This partnership with GrowthCurve marks a significant milestone for us, positioning us to unlock new growth opportunities and elevate PureFacts to the next level.” Founded in 1997, PureFacts helps many of the world’s top wealth management, asset management and asset servicing firms manage and grow their revenues. The PureRevenue Platform enables scalable revenue management by powering the entire revenue lifecycle. User firms can calculate, collect, distribute and optimize their revenues using the PureFacts fees engine, incentive compensation application and business intelligence solutions powered by a single system of record for revenue management. “We have come a long way since our humble roots as a small, Canadian wealthtech firm,” said Madej. “Since day one, our guiding principle has been our client intimate approach. It was critically important to find a strategic partner with the capabilities to help accelerate our ability to deliver value to our clients. The GrowthCurve team gained a deep understanding of our clients, our people, our products and our vision. We are thrilled to partner with them to enable our clients to grow their revenues more profitably.” GrowthCurve Capital is a private equity firm focused on building businesses through data, analytics and machine learning, combined with a comprehensive approach to human capital. The GrowthCurve investment will propel PureFacts along its growth trajectory by supporting new product development, continued market expansion, and the development and use of leading-edge artificial intelligence (AI) and analytics for the investment industry. “We have been very impressed with how Rob and the team built PureFacts into a leading provider of revenue management solutions for the wealth and asset management industry,” said Sumit Rajpal, GrowthCurve Capital founder and CEO. “PureFacts is exactly the type of company we look for in making strategic investments. We look forward to helping accelerate the company’s growth trajectory by investing in human capital, advancing the company’s robust technology platform and employing our expertise in AI and digital transformation to introduce new solutions and capabilities to PureFacts’ clients.” “PureFacts is well positioned to help its clients navigate an increasingly complex operating environment for billing and compensation management,” said GrowthCurve managing director Magnus Helgason. “There is a significant opportunity to build upon PureFacts’ market-leading revenue management platform to provide AI-enabled insights and recommendations that allow its clients to better manage and grow their revenues.” “We are incredibly grateful to our amazing clients around the world and very proud and thankful for our hardworking PureFacts team,” added Madej. “This partnership with GrowthCurve marks a significant milestone for us, positioning us to unlock new growth opportunities and elevate PureFacts to the next level.” Scotiabank acted as the exclusive financial advisor and Goodmans LLP served as legal advisor to PureFacts. KeyBanc Capital Markets Inc. acted as financial advisor and Weil, Gotshal & Manges LLP and Blake, Cassels & Graydon LLP served as legal advisors to GrowthCurve Capital. Terms of the transaction were not disclosed. To learn more about PureFacts’ offerings visit purefacts.com. About PureFacts Financial Solutions PureFacts Financial Solutions is an award-winning provider of End-to-End Revenue Management solutions for the investment industry. PureFacts helps some of the largest and most recognizable wealth management, asset management, and asset servicing firms manage and grow their revenues. The PureRevenue Platform enables scalable revenue management by powering the entire revenue lifecycle. Firms calculate, collect, distribute, incentivize, and optimize their revenues using PureFacts’ AI-enriched fees engine, incentive compensation application, and compelling revenue business intelligence powered by a single system of record for revenue management. PureFacts’ clients outperform by retaining more customers, delivering incremental value, improving productivity, properly incentivizing advisors and distributors, preventing costly mistakes, and finding optimization opportunities. With offices in Canada, the USA, and Europe, PureFacts has been recognized for its innovation and excellence including selections to the WealthTech100, AIFinTech100, and ESGFinTech100 awards. Drive revenues. Eliminate leakages. Increase growth velocity. Learn more at purefacts.com. About GrowthCurve GrowthCurve Capital is a private equity firm focused on building businesses by leveraging data, analytics, and machine learning, combined with a comprehensive approach to human capital, to seek to accelerate growth and drive long-term value. Founded by Sumit Rajpal, former Global Co-Head of the Goldman Sachs Merchant Banking Division, the firm focuses on data-rich, control-oriented private equity investments primarily across the technology and information services, healthcare, and financial services sectors. For more information, please visit www.GrowthCurveCapital.com and follow the firm on www.linkedin.com/company/growthcurvecapital. Contacts MEDIA CONTACT: PureFacts Rob Farmer 417-377-3293 purefacts@streetcredpr.com GrowthCurve Dan Gagnier 646-569-5897 growthcurve@gagnierfc.com
PureFacts featured on the AIFintech100 List
We are proud to once again be named among the world’s top companies developing innovative AI technologies in Financial Services. The AI Fintech 100 Ranking List is distinguished by their qualification criteria and the cohort of honored firms. As they say, the company you keep says a lot… well this is pretty remarkable company we are keeping. Infusing our end-to-end revenue management platform with AI enrichment will accelerate the ability of our clients to unlock revenue and further optimize their fees and compensation practices. With over 25 years of reliability and exclusive focus, we continue to provide cutting-edge tools and advanced features, supported by decades of proven expertise. Please see AIFinTech100 to check out the full list of AI leaders!
Vestmark and PureFacts Announce Partnership to Transform Wealth and Investment Management Billing at Scale
Billing identified as key to wealth management firm growth Partnership to boost offerings that deploy best-in-class wealth technology WAKEFIELD, Mass., June 11, 2024 /PRNewswire/ — Vestmark, Inc., a leading provider of wealth management software and services, and PureFacts Financial Solutions, a global leader in revenue management, enterprise reporting, and insights solutions for the asset and wealth management sector, today announced a strategic partnership that will enhance billing solutions and enable nimbler, faster operations for leaders in the wealth management space. Vestmark, renowned for its core platform encompassing portfolio management, trading, and client reporting, has identified billing as a crucial component of its comprehensive offering. The partnership with PureFacts provides an integrated billing platform that supports various billing models, including AUM-based, account-based, hourly, retainers, and more. PureFacts Financial Solutions has established itself as a global leader in revenue management and billing, offering an AI-enriched, end-to-end revenue lifecycle process through its innovative PureFees platform. “This partnership with PureFacts represents a necessary step in Vestmark’s journey to provide a comprehensive, end-to-end solution for a wide range of firms in the wealth management space, including broker-dealers, RIAs, RIA aggregators, asset managers, and other service providers,” said Karl Roessner, CEO of Vestmark. “We are extremely pleased to be partnering with a cutting-edge firm with a focus on fee billing excellence and scalability.” PureFacts’ enterprise billing platform is designed to scale, accommodating the diverse needs of different types of wealth and asset management firms. As part of a comprehensive suite of solutions available to financial advisors who leverage Vestmark’s customized investment solutions, PureFacts’ platform provides Vestmark clients the ability to track, measure, and optimize every dollar, bringing flexibility to support a wide range of business models, from small independent practices to regional broker-dealers and wealth managers and large national clients. “We are excited to partner with Vestmark to bring our innovative billing solutions to the U.S. market to help their clients grow,” said Robert Madej, CEO of PureFacts Financial Solutions. “Our collaboration signifies a win-win partnership, combining Vestmark’s robust technology platform with PureFacts’ industry-leading revenue management capabilities. Together, we will further empower financial professionals to deliver exceptional, personalized client experiences.” About Vestmark Headquartered in Wakefield, Mass. and founded in 2001, Vestmark is a leading provider of portfolio management solutions and outsourced services for financial institutions and their advisors, enabling them to efficiently manage customized client portfolios through an innovative technology platform. Supporting over $1.5 trillion in assets and 5.5 million accounts, Vestmark is a partner to some of the largest and most respected wealth management firms. For more information about Vestmark’s solutions, call (781) 224-3640 or visit www.vestmark.com About PureFacts Financial Solutions PureFacts Financial Solutions is an award-winning provider of End-to-End Revenue Management solutions for the investment industry. PureFacts helps some of the largest and most recognizable wealth management, asset management and asset servicing firms manage and grow their revenues. The PureRevenue platform enables scalable revenue management by powering the entire revenue lifecycle. Firms calculate, collect, distribute, incentivize and optimize their revenues using PureFacts AI-enriched fees engine, incentive compensation application and compelling revenue business intelligence powered by a single system of record for revenue management. With offices in Canada, the USA, and Europe, PureFacts has been recognized for its innovation and excellence including selections to the WealthTech100, AIFinTech100, and ESGFinTech100 awards. Drive revenues. Eliminate leakages. Increase growth velocity. Learn more at purefacts.com Media Contact Elizabeth Shim Haven Tower Group (424) 317-4861 eshim@haventower.com SOURCE Vestmark