Octopus Group has bought Seccl Technology for £10m ($12m) to continue its strategy of disrupting the platform technology market. Seccl, which is based in Bath and London, uses open API custody to help companies create their own investment platforms. It works for financial advisers, wealth managers, fund managers and fintechs. The CEO of London-based financial services firm Octopus, Simon Rogerson, said the platform technology market is “crying out for change” and that once the Seccl deal is completed its team would be expanded. In a statement released on Monday, the company said: “We are delighted to have secured this significant acquisition from one of our most respected strategic partners.
Octopus Group has bought Seccl Technology for £10m ($12m) to continue its strategy of disrupting the platform technology market. Seccl, which is based in Bath and London, uses open API custody to help companies create their own investment platforms. It works for financial advisers, wealth managers, fund managers and fintechs. The CEO of London-based financial services firm Octopus, Simon Rogerson, said the platform technology market is “crying out for change” and that once the Seccl deal is completed its team would be expanded. Seccl co-founder Hugo Thorman said the industry is on the brink of a shift in technology usage.