AFG to Acquire a 75% Stake in Fintelligence for $52.2 Million

Australian Finance Group (AFG) announced on Tuesday that it will acquire a 75% stake in asset finance aggregator, National Finance Alliance Pty Ltd, trading as Fintelligence, for $52.2 million.

Moreover, the group has an exclusive option to purchase the remaining 25% stake in Fintelligence over the next three and a half years. With the acquisition, AFG will be able to enhance the availability of white label and securitized asset finance products.

This acquisition is subject to confirmatory conditions precedent, which AFG expects will be met in the ordinary course and is expected to complete by 31 December 2021.

"This acquisition represents a significant opportunity to build a fast-growing, technology-enabled asset finance aggregation business of scale. It will drive growth in AFG’s asset finance volumes, market share for the combined group, and more lender and product opportunities for brokers and their customers. In addition, the acquisition allows AFG to increase the availability of white label and securitized asset finance products to meet the needs of our brokers and customers," commented David Bailey , CEO of AFG.

"This represents a great opportunity to become the leading aggregator partner across all sectors allowing AFG and Fintelligence clients to maximize their customers’ choices through product, service, innovation, and industry-leading technology. It’s going to be an exciting 2022 and beyond," said Darren Rumble, Head of Partnerships at Fintelligence.