Fintech and support services provider Fintel has announced it has made an investment into a new financial technology company Plannr Technologies Limited.
It has taken a 25% stake in Plannr that provides a specialist CRM capability for financial advisers, planners, and wealth managers.
The business has been operating for over a year with a test pilot group of advisers, coding and developing in an agile way to hone the product ready for a full-scale launch.
Fintel, the parent company of Defaqto and SimplyBiz, made the investment to support Plannr’s ambitious growth plans and roadmap, along with a planned integration into financial planning software, Defaqto Engage.
This integration will allow advisers to store customer data, create workflows and conduct financial planning.
Fintel joint CEO Matt Timmins said: “Plannr represents the best of modern thinking and cutting-edge development. The technology has been designed by advisers and crafted by the skilled developers at Plannr to be beautifully intuitive, easy to use, and infinitely scalable.
“Plannr’s powerful CRM capability has the potential to unlock important efficiencies, streamlining the advice journey and improving suitability for consumers. We look forward to delivering better outcomes for everyone.”
Plannr CEO Gareth Thompson added: “We are delighted to be working with Fintel as we develop the future of financial planning CRM. Fintel’s reputation for innovation and its unrivalled market reach makes it a perfect partner as we refine and scale our offering to define a new era of financial planning CRM.”
Reacting to the news, FTRC managing director Ian McKenna said: “I see this deal bringing benefits to Simplybiz members , Fintel Plc group, overall, Defaqto and Plannr.
“The level of shareholding will rightly give SimplyBiz and their members are significant voice on Plannr priorities.
“One of the challenges for Plannr, so far is that they have promised to deliver on a very big agenda, even with the best developers this takes time. The Fintel investment makes partnering with Defaqto in areas like cash flow, planning investment, research and report generation a natural option.
“In time Plannr might at their own options but I see this initiative enabling them to focus on other areas that are closer to the CRM and client portal role.
“This arrangement also opens up a significant target audience for Plannr for them to focus on.”
