Summa Equity has acquired a majority stake in Belgian payments tracking firm Intix.
Founded in 2011 in Mechelen, Belgium, Intix products provide financial institutions with the capability to view all their transaction data in a unified visual graphical user interface (GUI), as well as in machine readable application programming interfaces (APIs), while identifying irregularities and issuing real-time alerts.
Intix's portfolio consists of a number of Tier 1 banks, including KBC, Nordea, Société Générale and Standard Bank of South Africa, who use the company's off-the-shelf technology products to produce quality-assured master data for reporting, compliance and audit purposes.
Stockholm-based Summa Equity was founded in 2016 and invests in companies that solve global challenges and create positive Environmental, Social and Governance (ESG) outcomes for society. The transaction is the first from the Summa Equity III fund
Gisle Glück Evensen, partner at Summa Equity, comments: “Money laundering and fraud are massive challenges to the financial system and the society through the activities they support. Intix have made a solution that represents a step change in monitoring and detection capabilities. We have been impressed with the team and their values and look forward to partnering with them for the next leg of the journey.”