The company – considered by industry experts to be amongst the top-100 software firms in the world – has one of the most qualified software engineering teams in Eastern Europe with over 20 years of industry experience and with more than 950 staff, a tenured management team and deep knowledge of the sector.
SoftClub’s suite of products cover 85% of the modern bank application landscape and can support the most innovative bank operations. The company developed more than 50 of its own software products and over 15 products for core-banking systems: 62 million accounts are processed today through SoftClub’s products. More than 50,000 bank employees in 21 countries work on SoftClub’s software. SoftClub Retail, one of the company’s products, was included in Gartner Peer Insights.
Additionally, SoftClub has extremely strong expertise, supported by around 190 engineers, in Creatio, the low-code platform for process management and CRM. Creatio is one of the market leading products in sales automation, according to Gartner third year in a row.
With annual growth of almost 10%, the fintech industry is set to reach almost $200 bn in 2023 , helped in no small part by the fact that many financial institutions are still faced with the task of overhauling legacy architectures. As such, financial services sector is tipped to remain one of the largest consumers of information technology in the coming years. The clear potential for growth in this dynamically changing sector was the key driver behind Softline’s investment in SoftClub.
Noventiq's (formerly known as Softline) comprehensive portfolio, which covers the entirety of any modern enterprise’s IT needs, is now poised to deliver additional value to customers in the financial sector around the world. SoftClub’s team of more than 950 employees, including the management team and the company’s founder, will form the basis for a centre of excellence for fintech and CRM within Softline, and will be working on complex, large-scale transformations in the banking sector which utilise the latest IT solutions in the ever-changing world of financial services.
SoftClub delivered nearly US$11 million adjusted EBITDA in twelve months ending June 30, 2021.
Igor Borovikov, the Founder and Chairman of Noventiq Group explained, “Our M&A strategy is aimed at supporting our three-dimensional growth strategy: growing our geographical presence, our solutions and services portfolio and strengthening our sales channel. This deal strengthens our services capability by adding more than 950 excellent engineers to our existing force of more than 1,000 software specialists. And we benefit from the on-going consolidation of the industry by acquiring majority stake in SoftClub at the effective EBITDA multiple around our target.
This transaction is part of our journey to grow the share of services in our turnover, to have more than 5,000 software engineers at Softline available to our customers, and to receive more than half of our Gross Profit from services.”
Sergey Chernovolenko, CEO of Softline Group commented, “Our growth strategy is focused on anticipating the changing needs of our customers during digital transformation and adapting our portfolio to stay ahead of the rapidly changing environment. The financial sector around the world continues to be one of the most vibrant and demanding of all sectors, and the world-class team from SoftClub puts us in an excellent position to serve the global fintech market.
Noventiq's (formerly known as Softline) customers around the world can rest assured that we rapidly bring these capabilities to them so that they can reduce their time-to-value. Our drive to understand our customers’ needs, combined with the specialisation required to meet those needs, is what sets us apart from our peers.”
Vladimir Sirotko, co-founder and CEO of SoftClub said, “Established in 1993, SoftClub ranks among the leaders in the region for software development, system integration and consulting in both the financial and public sector. We’re looking forward to working together with Softline in its mission to enrich its portfolio of fintech services and solutions and in providing to our clients an access to Softline Group products and experience.”
According to industry-authority Software Magazine, SoftClub currently ranks as one of the top-100 software companies in the world .
About Noventiq (formerly known as Softline)
Noventiq (formerly known as Softline) is a leading global solutions and services provider in digital transformation and cybersecurity, with its headquarters in London. The company enables, facilitates and accelerates the digital transformation of its customers’ businesses, connecting over 150,000 organizations from all industries with over 6,000 best-in-class IT vendors, and delivering its own services and solutions. Softline is executing its three-dimensional growth strategy of geographic, portfolio and sales channel expansion.
Currently one of the fastest growing companies in the sector, Noventiq (formerly known as Softline) achieved a turnover of US$1.8 billion in the fiscal year of 2020. In October 2021, the company listed on the London and Moscow stock exchanges. Since the end of fiscal year 2020, Softline has acquired several companies with the total annual turnover of roughly US$200 million.
Noventiq's (formerly known as Softline) 6,500 employees work in almost 60 countries throughout Asia, Latin America, Eastern Europe and Africa – markets with significant growth potential. The company delivers a comprehensive range of IT solutions and is at the center of the digital transformation megatrend.
SoftClub was established in 1993 and is among leaders in Eastern Europe in software development, system integration and consulting in financial and public sector Geography of the company activities – Belarus, Georgia, Kazakhstan, Kyrgyzstan, Tajikistan, Russia, Turkmenistan, Ukraine, as well as EU (Lithuania, Poland) and Southeast Asia. According to authoritative Software Magazine’s Software 500 ranking SoftClub during 2011-2016 has been among of the world’s largest software and service companies. Products and solutions of the company are implemented in more than 40 banks, including TOP-30 banks by asset volume in the CIS countries.