Wealthtech startup PureFacts Financial Solutions has acquired fellow Toronto-based company Xtiva Financial Systems as part of the former’s growth strategy for its revenue management solutions.

According to PureFacts, the deal combines its infrastructure for gross and net fee calculations and reporting, with Xtiva’s technology and expertise in incentive and performance compensation management. This consolidated entity, which will operate under the PureFacts umbrella, is expected to offer a “complete” revenue management solution.

PureFacts claims it has over 100 clients with a combined $10 trillion in assets under management.

“We know that better revenue management leads to greater revenue growth, and a key piece of that puzzle is developing and managing strategic incentive compensation plans,” said Robert Madej, founder, and CEO of PureFacts.

Executives from Xtiva, including CEO Thomas J. Moysak, will join the PureFacts’ leadership team, reporting directly to Madej.

PureFacts said that the leadership teams will work together to integrate both companies’ development, back-office, and go-to-market activities.

Founded in 1998, Xtiva provides sales performance and incentive compensation management software for the wealth management industry. Xtiva is backed by Recurring Capital, which led its $10 million USD financing round in 2020.

RELATED: WealthTech startup PureFacts raises $37 million to pursue acquisitions

Led by Madej, PureFacts claims it has over 100 clients with a combined $10 trillion in assets under management. Beyond revenue management, PureFacts provides a number of solutions to the financial services industry, including enterprise reporting, artificial intelligence for investor retention and retirement income insights, as well as data management.

PureFacts has acquired a number of companies in the past as part of its growth plans for its other offerings. In 2020, PureFacts acquired two companies. One was Quartal Financial Solutions, a European provider of fee billing and commission solutions for the financial and insurance industries. The other was CRM consulting firm VennScience.

Featured image from PureFacts.

The post PureFacts acquires Xtiva to bolster its revenue management solutions first appeared on BetaKit.

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