Zafin, an award-winning provider of relationship banking software solutions to the financial services industry, announced today that Kayne Partners has invested $15 million ($USD) in the company to grow its business. Kayne Partners is the growth private equity group of Kayne Anderson Capital Advisors, L.P. a $30 billion alternative investment firm.
Headquartered in Vancouver, British Columbia, Zafin was founded by financial technology expert Al Karim Somji (Chief Executive Officer) in 2002. Zafin’s flexible software suite, miRevenue, is a complete Product and Pricing Lifecycle Management (“PPLM”) platform – a “start-to-finish” view of the way banks bring products to market quickly and easily with a focus on revenue enhancement. Zafin is transforming the way banks manage products, pricing, loyalty and billing across the entire client relationship, and its client base includes many of the world’s largest and most respected tier-1 banks.
“We are proud to have the support of Kayne Partners at this important juncture in Zafin’s growth. Our partnership will enable Zafin to significantly expand its international sales and marketing efforts, as well as accelerate our product roadmap. We are particularly pleased with how our vision is aligned with Kayne Partners’ strategy in financial technology,” said Al Karim Somji, Chief Executive Officer of Zafin.
“Kayne Partners strives to identify and partner with companies uniquely positioned in high growth industries and backed by exceptionally strong management teams. Zafin is transforming the way banks manage products, pricing, loyalty and billing across the entire client relationship, creating a win-win situation by improving customers’ experience and increasing profitability for the bank. Kayne Partners recognizes significant future growth in this space going forward and believes Zafin’s financial technology expertise, combined with their innovative product roadmap, uniquely positions them to lead,” said Nishita Pawar, Managing Director, Kayne Partners.
“When we realized the amount of value this management team is delivering to very happy customers, we knew we wanted to be a part of this story. Kayne Partners is proud to partner with such an experienced and talented management team. We believe Zafin is well-positioned to become the dominant leader in providing relationship banking software solutions to financial institutions,” said Doyl Burkett, Partner, Kayne Partners.