MSO, located in Cheltenham, has been a key player in the mortgage software industry since 2014, focusing on residential mortgage and buy-to-let origination software for banks and building societies.
London-based finova, meanwhile, offers a wide range of SaaS solutions that facilitate efficient management of pricing, underwriting, application processing, and loan servicing for specialist lenders, equity release lenders, savings institutions, and brokers.
“We are excited to back a compelling combination of robust platforms with complementary product suites and customer bases,” said James Stevens (pictured), managing director of Bain Capital Tech Opportunities in London. “The combined scale of these two businesses will allow us to offer more competitive and innovative products in a dynamic market, ultimately bringing more choice to consumers across the country.”
Paraag Davé, executive chairman of finova, said Bain Capital’s investment in each business will strengthen and invest in the capabilities of both platforms and help deliver increased value to customers.
“We are thrilled to blend finova’s SaaS expertise in complex solutions such as pricing, decisioning, specialist lending, savings, and loan servicing with MSO’s leadership in residential mortgage originations,” he added.