Dutch fintech Ohpen has acquired cross-border loan and mortgages Software as a Service (SaaS) provider Davinci.
The acquisition extends Ohpen's core banking product range into the mortgage market, complementing its existing range of plug-and-play products for savings, investments, loans and current accounts.
Davinci deploys machine learning and AI to process and approve mortgage loans.
The combined company will have a headcount of 350 and $35 million revenue
Matthijs Aler, CEO at Ohpen, comments: “ We are a growing company with huge ambitions. Together, we intend to lead the charge in directly challenging incumbent providers with outdated technology.”