Abrigo, an Austin, TX-based company which specializes in compliance, credit risk, and lending solutions for financial institutions, acquired Valuant, a Columbia, SC-based compliance and credit risk software and service provider.
The amount of the deal was not disclosed.
With the acquisition, Abrigo will continue the execution of its strategy to provide software and services to a customer base of 2,300 financial institutions, grow feature functionality and create more options to help clients solve their challenges.
Led by CEO William Bossong, Valuant is a provider of accounting technology and services that help banks and financial institutions comply with regulatory reporting standards. The company provides a comprehensive solution that covers the accounting issues facing financial institutions today, including CECL and valuation, and its software helps clients’ loan review strategies reach maximum productivity.
Led by CEO Jay Blandford, Abrigo is a provider of lending and compliance software and services. Its platform centralizes the institution’s data, creates a digital user experience, ensures compliance, and delivers efficiency for scale. The company’s portfolio risk and credit risk solutions enable institutions to manage portfolio-wide risk automatically. One-time data entry and frameworks make it easy to gain maximum insight and efficiency by connecting stress testing, calculating expected credit losses, economic forecasting, budgeting, asset/liability modeling, and more.
Abrigo has secured strategic growth investments from funds managed by Accel-KKR and Carlyle.
