Teciem has officially launched as an independent company after Apax Partners completed its acquisition of Finastra's Treasury and Capital Markets (TCM) division, marking a significant carve-out in the financial software sector.
The newly formed London-based firm enters the market with an established client base of over 340 financial institutions, including 70 of the world's top 100 banks. Teciem's software portfolio—featuring Kondor, Summit, Opics, Sophis, Fusion Risk, and Fusion Invest—provides mission-critical solutions for treasury operations, capital markets trading, risk management, regulatory compliance, and investment management.
Wissam Khoury, who previously served as Executive Vice President of Finastra's TCM business unit for four years, has been appointed CEO of Teciem. With 25 years of experience in financial technology, Khoury will lead a team of 1,300 specialists who have transitioned from Finastra to ensure seamless continuity for clients.
"As a standalone business dedicated to providing industry-leading treasury and capital markets software and services, Teciem is focused on delivering excellence and accelerating innovation across our product portfolio," Khoury stated. "With the backing of Apax and their deep expertise in supporting the growth of technology businesses, we'll be investing further in product development and technology."
Apax Partners is committing significant investment to support Teciem's growth trajectory, with funds earmarked for product development and talent expansion. The private equity firm, which has raised approximately $80 billion in aggregate commitments over its 50-year history, specializes in tech, services, and internet/consumer sectors.
Gabriele Cipparone, Partner at Apax, emphasized the strategic opportunity: "Teciem's market-leading software, deep customer relationships and strong global team puts it in an excellent position to invest in its product roadmap, continue supporting clients' evolving needs, and build on the capabilities that have made it a trusted partner across treasury and capital markets."
The transaction value was not disclosed. The spinout allows Teciem to operate with greater focus and independence while Finastra concentrates on its core banking and lending solutions.