NEWS
/
Pressrelease
The offering compliments Stacc’s existing product and service portfolio. The Stacc group expects to reach a revenue of 180 MNOK in 2021, nearly a doubling from the year before.
Further strengthening of the Stacc product offering
within compliance
Quesnay is a software company specialized in delivering a comprehensive Client Lifecycle Management (CLM) solution to the Nordic banking and finance industry. The solution structures and automates a number of compliance related tasks, handles onboarding of new customers, ongoing due diligence, KYC checks and additional tasks such as document production and signing.
Quesnay was established in 2017, and had a revenue of 26 MNOK in 2020. The market for compliance has grown significantly over the last years driven by new regulations and harmonization in the EU. Quesnay will become a 100% owned subsidiary of Stacc and will continue to focus on the company’s core business; delivering software solutions for compliance, KYC and anti-money laundering (AML).
- Joining Stacc we see enormous potential and possibilities for further distribution and development of our combined software offering. In addition we have a common vision of expanding outside of Norway, Philip Røer, CEO of Quesnay comments.
Local presence and growth in Oslo
The acquisition will further strengthen Stacc’s footprint in the capitol.
- Many of our Norwegian customers have their head office in Oslo. We look forward to strengthening our local team and presence in the capital. In addition to the 120 employees that are located in Bergen, we now have a team of more than 25 people located in Oslo. We look forward to recruiting even more employees into the Stacc family in the future from the large number of talented people in the Oslo area.
Stacc will continue with acquisitions -
next time outside of Norway
With the ambition to prove that Norwegian finance technology can compete with international players, Stacc has a clear vision of becoming an international player within finance technology.. According to Stacc’s CEO Geir Hamre Nordrik, there are no further acquisitions planned in Norway.
“In the future, we will look abroad for strategic M&A. We are looking for players with good market access and network in their local geographical markets. Sweden is the natural first step, but we are also in dialogue with players in continental Europe.”
Contact information:
Geir Nordrik
CEO, Stacc AS
+47 908 92 837
geirn@stacc.com
Philip Røer
CEO, Quesnay
+47 922 19 441
philip@quesnay.com
Do you want to learn more about who Quesnay is and what they do?
Sign up for Quesnay’s digital conference Compliance Disrupted 2021!
A yearly Nordic virtual conference for compliance and regtech in banking and finance, where industry leaders, innovators and regulators meet to discuss the future of compliance.